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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