Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — Q3 2022 Earnings Presentation
19 slides from Bristol-myers Squibb's earnings presentation, Oct 26, 2022
Slide 1: Q3 2022 Results
Q3 2022 Results October 26, 2022
Slide 2: Forward Looking Statements and Non-GAAP Financial Information
Q3 2022 Results Not for Product Promotional Use Forward Looking Statements and Non-GAAP Financial Information 2 This presentation contains statements about Bristol-Myers Squibb Company’s (the “Company”) future financial results, plans, business development strategy, anticipated clinical trials, resu
Slide 3: Giovanni Caforio, Board Chair and Chief Executive Officer
Q3 2022 Results Giovanni Caforio Board Chair and Chief Executive Officer 3
Slide 4: Q3 2022 Performance
Not for Product Promotional UseQ3 2022 Results Operational Performance Strong commercial execution • Q3 sales: ~$11.2B, (3%) YoY, in-line ex-FX • Q3 EPS: GAAP +9% & non-GAAP +3% YoY • Strong growth from In-line & New Product Portfolio: +8% YoY, +13% ex-FX Business Development • Closed Turning Point
Slide 5: Three Additional $4B+ Medicines Now Approved
Q3 2022 Results Not for Product Promotional Use Three Additional $4B+1 Medicines Now Approved 5 1NRA sales in 2029 NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval Three First-in-Class Products Clinically meaningful PFS & OS First-in-class myosin i
Slide 6: 2022 Key Milestones
Q3 2022 Results Not for Product Promotional Use 2022 Key Milestones Opdivo (+/- Yervoy) U.S./EU expected approvals: 1L ESCC (CM-648) Neo-adj lung EFS (CM-816) (U.S.) Opdualag 1L melanoma U.S. approval Initiation 2L+ CRC Ph3 bempeg 1L melanoma 1L renal 1L bladder Breyanzi 2L LBCL U.S.
Slide 7: Near-term Catalysts by YE 2023
Q3 2022 Results Not for Product Promotional Use Near-term Catalysts by YE 2023 Anticipated Approvals Asset Milestone Abecma 3-5L MM in U.S. Camzyos oHCM in EU repotrectinib ROS1+ NSCLC in U.S. Sotyktu Moderate-to-severe plaque psoriasis in EU Key Readouts Asset Milestone Breyanzi Ph2: TRANSCEND-CLL
Slide 8: Opportunity for Franchise Durability & Growth Across Key Therapeutic Areas
Q3 2022 Results Not for Product Promotional Use Cardiovascular Opportunity for Franchise Durability & Growth Across Key Therapeutic Areas Oncology Hematology Immunology/ Fibrosis 8 New Products Robust early-stage pipeline with 50+ assets in development iberdomide3 milvexian4cendakimab3 Inline Brands
Slide 9: David Elkins, Chief Financial Officer
David Elkins Chief Financial Officer 9 Q3 2022 Results
Slide 10: Solid Total Company Performance
Not for Product Promotional UseQ3 2022 Results Solid Total Company Performance 10 Total Company Sales ~$11.2B (3%) YoY, in-line ex-FX $B Q3 Net Sales* YoY % Ex-FX % Total Company $11.2 (3%) - In-Line Products $8.1 5% 10% New Product Portfolio $0.6 61% 66% In-Line Products & New Product Portfolio $8.
Slide 11: New Product Portfolio Sales Performance
Not for Product Promotional UseQ3 2022 Results $160 $190 $71 $107 $84 $40 $69 $30 $44 $21 $32 $22 $21 $344 $553 Q3 2021 Q3 2022 $M Reblozyl Abecma Opdualag Zeposia Breyanzi Onureg Inrebic Camzyos Sotyktu New Product Portfolio Sales Performance 11 +61% & +66% ex-FX growth vs PY +15% & +16% ex-FX grow
Slide 12: Q3 2022 Solid Tumor Product Summary
Not for Product Promotional UseQ3 2022 Results Q3 2022 Solid Tumor Product Summary 12 Opdivo • U.S. growth driven by demand in 1L lung, 1L renal, 1L gastric, adj. esophageal, adj. bladder cancer & neo-adj. lung • Ex-U.S. growth from 1L lung & gastric cancers vs PY • Continued growth expected from cu
Slide 13: Cardiovascular Product Summary
Q3 2022 Results Not for Product Promotional Use Q3 2022 Cardiovascular Product Summary 13 Eliquis • Best-in-class medicine & leading product within OAC category • U.S. robust demand & favorable gross-to-net adjustments vs PY • Ex-U.S. continues to be #1 OAC in key international markets; limited Gx i
Slide 14: Hematology Product Summary
Q3 2022 Results Not for Product Promotional Use Q3 2022 Hematology Product Summary 14 Revlimid – Impacted by Gx entry • Reaffirm FY 2022 revenues of $9 - $9.5B Pomalyst – Increased demand as patients move into earlier lines, extending treatment duration Reblozyl • Robust U.S. demand; encouraging tre
Slide 15: Immunology Product Summary
Q3 2022 Results Not for Product Promotional Use Q3 2022 Immunology Product Summary 15 Zeposia • Demand growth including expansion into UC • Successfully improving formulary access Sotyktu • U.S. FDA & Japan PMDA approval in September 2022, in moderate-to-severe plaque psoriasis • Strong physician fe
Slide 16: Q3 2022 Financial Performance
Q3 2022 Results Not for Product Promotional Use US GAAP Non-GAAP $ in billions, except EPS Q3 2022 Q3 2021 Q3 2022 Q3 2021 Total Revenues, net 11.2 11.6 11.2 11.6 Gross Margin % 79.0% 80.3% 79.8% 81.1% Operating Expenses1 4.3 4.8 4.1 4.2 Acquired IPR&D 0.0 0.3 0.0 0.3 Amortization of Acquired Intang
Slide 17: Balanced Approach to Capital Allocation
Q3 2022 Results Not for Product Promotional Use Balanced Approach to Capital Allocation 17 *Cash includes cash, cash equivalents and marketable debt securities **Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information ***Subject to
Slide 18: 2022 Guidance
Q3 2022 Results Not for Product Promotional Use July (Prior) October (Revised) October (Reaffirmed) Total Net Sales ~$46B No Change ~$46B Recent LOE Brands1 ~$10B or double-digit decline No Change ~$10B or double-digit decline Revlimid $9B - $9.5B No Change $9B - $9.5B In-line Brands & New Product P
Slide 19: Q&A
Q3 2022 Results Not for Product Promotional Use Q&A Giovanni Caforio, M.D. Board Chair, Chief Executive Officer David Elkins Executive VP, Chief Financial Officer 19 Chris Boerner, Ph.D. Executive VP, Chief Commercialization Officer Samit Hirawat, M.D. Executive VP, Chief Medical Officer, Global Dru