Christopher Boerner on cost optimization
From Bristol-Myers Squibb Co ($BMY) Q1 2025 Earnings Call · · Castify Earnings Call
“We are taking deliberate actions to rightsize our cost structure and become a more efficient company. Overall, I'm confident we will deliver on disciplined execution as we position the company for top tier growth by the end of the decade.”
On , Christopher Boerner, Chief Executive Officer & Chairman at Bristol-Myers Squibb Co, spoke about cost optimization during Bristol-Myers Squibb Co ($BMY) Q1 2025 Earnings Call on Castify Earnings Call.
About Christopher Boerner
Christopher Boerner, board chair and chief executive officer of Bristol Myers Squibb, said on the company’s third-quarter 2025 earnings call that the company was increasing its full-year revenue guidance by $750 million at the midpoint, to a range of $47.5 billion to $48 billion, citing strong performance of its growth portfolio. He stated that as of the end of the third quarter, the company had paid $6.7 billion of the $10 billion debt paydown it committed to by the first half of 2026, and that it remained committed to returning capital to shareholders through the dividend. Boerner also said the company was actively engaging with the administration on issues such as most-favored-nation pricing and tariffs, describing the discussions as frequent and constructive, and expressed hope that any resulting policies would enhance the competitiveness of U.S. companies. Earlier in 2025, Boerner commented on the U.S. healthcare system, stating that 65 cents of every dollar spent on pharmaceutical products in the U.S. goes to middlemen, and that there are opportunities to ensure rebates reduce patient out-of-pocket costs. He noted that the administration had highlighted the need to cut out middlemen, and that the company’s Eliquis direct-to-patient offering was a way to lower costs for patients. On the corporate tax rate, Boerner said making the U.S. rate more competitive is critically important, citing a positive impact on R&D investment after the 2017 rate reduction. He also stated that the company was on track to delever its balance sheet and pay down $10 billion of debt by the first half of 2026, and that it was initiating two registrational studies for its PRMT5 inhibitor in non-small cell lung cancer and pancreatic cancer based on encouraging early data.