Elizabeth Mily, BMS business development chief

Bris­tol My­ers to spend $50B on deals, buy­backs in next 3 years — al­though BD chief notes find­ing the right deal still 'very hard'

Bris­tol My­ers Squibb has loaded up plen­ty of am­mu­ni­tion for M&A and oth­er types of deals over the next two years — even if the right tar­gets aren’t al­ways easy to come by.

Pre­sent­ing at the vir­tu­al JP Mor­gan Health­care Con­fer­ence, the phar­ma gi­ant re­vealed that it ex­pects to have around $45 bil­lion to $50 bil­lion in free cash flow be­tween 2022 and 2024, which it plans to spend on a “bal­anced cap­i­tal al­lo­ca­tion strat­e­gy, pri­or­i­tiz­ing busi­ness de­vel­op­ment and re­turn­ing cash to share­hold­ers” through div­i­dend and share re­pur­chase pro­grams.

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