Bristol Myers Plans $40 Billion Boost for U.S. Operations Over Five Years

Published 5 hours agoBMY

Bristol Myers Plans $40 Billion Boost for U.S. Operations Over Five Years

Bristol Myers Squibb (BMS) is set to invest a substantial $40 billion in the United States over the coming five years. This investment aims to expand the company's research, development, and manufacturing footprint across the country, particularly as the pharmaceutical industry faces potential import tariffs proposed by President Donald Trump. Reuters reported that this approach is intended to fortify BMS's U.S. presence amidst these pending policy changes.

A key aspect of BMS's investment is to enhance its manufacturing capabilities within the United States. This move is designed to secure greater control over complex supply chains by aligning production closely with its research facilities. The significant financial commitment also earmarks funds for technological advancements, including radiopharmaceutical manufacturing and the integration of artificial intelligence and machine learning, which are intended to catalyze the company's innovative capacities.

The investment strategy by BMS coincides with industry-wide preparations for possible tariffs, as reported by Reuters. Additionally, it follows the Trump administration's streamlined efforts to hasten pharmaceutical plant approvals, supporting domestic manufacturing initiatives. Last year, BMS expanded its investment in radiopharmaceuticals by acquiring RayzeBio for $4.1 billion, which bolsters its cancer treatment pipeline.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Douglas Dynamics Awaits Q1 2025 Results Amid Strong 2024 Performance

Douglas Dynamics Awaits Q1 2025 Results Amid Strong 2024 Performance

8 minutes agoPLOW

Douglas Dynamics has not yet released its first-quarter financial results for 2025, as of May 6. The most recent update, shared on February 24, detailed impressive results for the fourth quarter and the full year of 2024. The company announced net sales of $143.5 million in the last quarter of 2024, marking a 6.9% rise from the same period in 2023, while full-year net sales matched the previous year's figure at $568.5 million. Notably, the company's net income saw a significant uptick, reporting $7.9 million for Q4 2024 compared to $7.1 million in the prior year. The full-year net income surged to $56.2 million from $23.7 million in 2023. Adjusted net income also exhibited strong growth, with Q4 2024 seeing a 106.7% increase to $9.3 million. For the full year, adjusted net income grew by 44.6% to $35.2 million. Douglas Dynamics’ Work Truck Solutions segment achieved record-setting results, with net sales up 13% to $312.5 million and adjusted EBITDA rising 75.6%. Looking ahead, Douglas Dynamics is optimistic about 2025 but cautiously plans for stable economic conditions overall. The company projects net sales between $610 million and $650 million and an adjusted EBITDA range of $75 million to $95 million. The anticipated adjusted earnings per share span from $1.30 to $2.10, with an effective tax rate expected between 24% and 25%. As highlighted by The Manila Times, these projections assume continued economic stability and typical winter snowfall patterns in core markets.

Mattel Adjusts Strategies Amidst U.S. Tariffs on Chinese Goods

Mattel Adjusts Strategies Amidst U.S. Tariffs on Chinese Goods

24 minutes agoMAT

Mattel Inc., the toy company famous for Barbie and Hot Wheels, is taking significant steps to adjust to the newly imposed 145% tariffs on goods from China by the U.S. government. One of their immediate strategies is raising prices for some toys in the U.S. market. This move aims to counterbalance the increased costs associated with the tariffs, according to the latest report by Reuters. In addition to price hikes, Mattel is actively diversifying its manufacturing footprint. The company plans to accelerate its transition away from Chinese manufacturing, aiming to relocate approximately 500 products to factories in other countries by the end of the year, a significant increase from the 280 products moved last year. This shift highlights Mattel's commitment to leveraging its flexible supply chain to navigate the current trade climate effectively, as reported by AP News. Moreover, in light of the unpredictable nature of U.S. trade policies, Mattel has pulled its full-year earnings forecast. The company also reported financial results for the first quarter ending March 31, showing a 2% increase in sales to $827 million. However, they experienced a deeper net loss of $40.3 million compared to last year's $28.3 million loss. These strategic decisions reflect Mattel's efforts to manage costs and maintain product availability in response to challenging market conditions.

Ford Withdraws 2025 Earnings Guidance Amid Tariffs Impact

Ford Withdraws 2025 Earnings Guidance Amid Tariffs Impact

53 minutes agoF

Ford Motor Company has recently announced its decision to suspend the earnings guidance for 2025 due to the financial impact of tariffs imposed by the U.S. government under President Donald Trump. This move comes as the automaker anticipates a $1.5 billion reduction in adjusted earnings before interest and taxes, largely because of increased tariffs on imports from Mexico and China, as reported by Reuters. In light of these challenges, Ford has implemented various operational adjustments that successfully mitigated approximately $1 billion of these tariff-related costs, utilizing logistics changes among other strategies. Despite this, the company's first-quarter net income saw a significant decline, dropping from $1.3 billion to $471 million, though it did manage to reach a profit of 14 cents per share, exceeding analyst expectations. Ford's U.S.-focused manufacturing strategy, with 79% of its sales assembled domestically, offers some cushion against competitors like General Motors. However, the company continues to struggle with its electric vehicle division, projecting losses of up to $5.5 billion by 2025. Following its earnings update, Ford's stock dipped by 2.6% in after-hours trading, reflecting the market's uncertain reaction to these financial impacts.

DoorDash Acquires Deliveroo for $3.85 Billion in Strategic Expansion Move

DoorDash Acquires Deliveroo for $3.85 Billion in Strategic Expansion Move

1 hours agoDASH

DoorDash has announced its acquisition of UK-based food delivery company Deliveroo in a deal valued at $3.85 billion, equivalent to 2.9 billion pounds. This development marks a significant push by DoorDash to strengthen its presence in international markets, particularly leveraging Deliveroo's strong foothold in the United Kingdom. Reuters reported this strategic expansion aligns with DoorDash's ongoing initiative to enhance its competitive edge in the global food delivery industry. The financial details of the acquisition are based on a current exchange rate where $1 equals 0.7526 pounds. Following the announcement, Deliveroo's shares jumped over 17%, indicating strong investor confidence and a positive reception in the market, as highlighted by a report from AP News. This acquisition follows previous discussions between DoorDash and Deliveroo that stalled in 2024 due to disagreements over valuation. By purchasing Deliveroo, DoorDash aims to capitalize on a broader industry trend of consolidation, as companies seek to fortify their market positions in a highly competitive sector.