Bristol Myers Squibb said revenues for Q1 2025 decreased 6%. The company cited increased demand across the Growth Portfolio and Eliquis, offset by the impact of generics on Revlimid, Sprycel, Abraxane and Pomalyst, as well as the impact of the redesign of the Medicare Part D program, primarily attributed to Eliquis.

10-QQuarterly reportFiled Apr 24, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Bristol Myers Squibb said revenues for Q1 2025 decreased 6%. The company cited increased demand across the Growth Portfolio and Eliquis, offset by the impact of generics on Revlimid, Sprycel, Abraxane and Pomalyst, as well as the impact of the redesign of the Medicare Part D program, primarily attributed to Eliquis.
The company said GAAP EPS increased $7.09, citing one-time Acquired IPRD charges from the Karuna asset acquisition and SystImmune collaboration in 2024 as key factors. Bristol Myers Squibb said non-GAAP EPS increased $6.20 after adjusting for specified items.
The company said operating cash flow for Q1 2025 decreased $880 million compared to 2024, citing higher U.S. GTN payments as a key factor. It added that customer collections partially offset this decrease.
Bristol Myers Squibb said it expects to realize annual cost savings of approximately $2.0 billion by the end of 2027 in connection with the 2025 expansion of its productivity initiative. The company said the exit costs resulting from these actions are included in its updated 2023 Restructuring Plan.

Key figures

Quarter ended March 31, 2025

Revenue: $11.2B
Net income: $2.5B
EPS: $1.20
Operating cash flow: $2.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2025 Revenues Decreased 6%; Company Explanation

Bristol Myers Squibb said revenues for Q1 2025 decreased 6%. The company cited increased demand across the Growth Portfolio and Eliquis, offset by the impact of generics on Revlimid, Sprycel, Abraxane and Pomalyst, as well as the impact of the redesign of the Medicare Part D program, primarily attributed to Eliquis.

Source · Based on the MD&A text of the filing

GAAP EPS Increased $7.09; Non-GAAP EPS Increased $6.20

The company said GAAP EPS increased $7.09, citing one-time Acquired IPRD charges from the Karuna asset acquisition and SystImmune collaboration in 2024 as key factors. Bristol Myers Squibb said non-GAAP EPS increased $6.20 after adjusting for specified items.

Source · Based on the MD&A text of the filing

Operating Cash Flow Decreased $880 million

The company said operating cash flow for Q1 2025 decreased $880 million compared to 2024, citing higher U.S. GTN payments as a key factor. It added that customer collections partially offset this decrease.

Source · Based on the MD&A text of the filing

Expected Annual Cost Savings of Approximately $2.0 billion by End of 2027

Bristol Myers Squibb said it expects to realize annual cost savings of approximately $2.0 billion by the end of 2027 in connection with the 2025 expansion of its productivity initiative. The company said the exit costs resulting from these actions are included in its updated 2023 Restructuring Plan.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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