What factors influenced BMY's EPS in 2024?

Bristol-Myers Squibb's (BMY) EPS was negatively influenced by several factors in 2024:

1. **Acquisition-Related Charges**: The company incurred significant costs related to its acquisitions, such as those of Karuna Therapeutics and RayzeBio, which impacted its net income and, consequently, its EPS.
2. **Patent Expirations and Revenue Decline**: The expiration of key patents for drugs like Eliquis and Opdivo led to a decline in revenue, which in turn affected the company's profitability and EPS.
3. **Increased Research and Development Expenses**: Bristol-Myers Squibb increased its research and development expenses, particularly in areas like immuno-oncology, which are critical but costly. This increase in expenses contributed to the net loss and negative EPS.
4. **Strategic Initiatives and One-Time Costs**: The company executed strategic initiatives aimed at improving productivity and innovation, which, although beneficial in the long term, resulted in one-time costs that impacted short-term EPS.

These factors, combined with the challenges of sustaining revenue growth in the face of patent expirations, significantly influenced BMY's EPS in 2024.