Bristol Stresses Cost Control Despite Strong Earnings Quarter

Pharma pledges level operating expenses from 2016 to 2020, despite a planned uptick in 2017 R&D spend. Sales were strong almost across the board for Bristol during the third quarter, but headwinds are coming, especially in immuno-oncology.

Though earnings were strong in the third quarter, Bristol-Myers Squibb Co. used its Oct. 27 sales and earnings call to reassure investors about cost control going forward, with CEO Giovanni Caforio outlining an operating model transformation for the pharma that would keep operating costs level from 2016 to 2020.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Earnings

More from Business