Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — Q3 2021 Earnings Presentation
18 slides from Bristol-myers Squibb's earnings presentation, Oct 27, 2021
Slide 1: Q3 2021 Results
Q3 2021 Results October 27, 2021
Slide 2: Forward Looking Statement and Non-GAAP Financial Information
Q3 2021 Results Not for Product Promotional Use Forward Looking Statement and Non-GAAP Financial Information 2 This presentation contains statements about the Company’s future plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private
Slide 3: Q3 2021 Results - Giovanni Caforio
Not for Product Promotional Use Q3 2021 Results Giovanni Caforio Board Chair and Chief Executive Officer 3
Slide 4: Q3 2021 Performance
Q3 2021 Results Not for Product Promotional Use Operational Performance Strong commercial execution • Sales of $11.6B in Q3; +10% YoY • Continued momentum for in-line brands & new product portfolio Pipeline Execution Key milestones • Relatlimab U.S. & EU filing, U.S. priority review with PDUFA of Ma
Slide 5: Expected pipeline milestones
Q3 2021 Results Not for Product Promotional Use Opdivo (+/- Yervoy) U.S./EU expected approvals: 1L RCC (9ER) , 1L GC (649, O+Chemo), adj Eso (577) adj MIBC (274) 1L Esophageal (CM-648) Opdivo return to annual growth Relatlimab 1L Melanoma w/ Opdivo Ph3 Breyanzi 3L+ DLBCL U.S. / EU approval3 2L TE an
Slide 6: Strong foundation for future growth
Q3 2021 Results Not for Product Promotional Use Strong foundation for future growth 6 Strong execution Executing launches & advancing pipeline Significant opportunity for portfolio growth & renewal Foundation Established First/Best-in-Class Assets mavacamten deucravacitinib relatlimab Strong Innovat
Slide 7: David Elkins, Chief Financial Officer
Not for Product Promotional Use David Elkins Chief Financial Officer 7 Q3 2021 Results
Slide 8: Strong Q3 performance in key franchises
Q3 2021 Results Not for Product Promotional Use Net Sales $ in Billions Vs. Prior Year $3.3 11% $2.4 15% $1.9 7% $0.9 10% Strong Q3 performance in key franchises Net Sales $ in Billions Vs. Prior Year $0.9 5% $0.6 1% $0.5 15% $0.3 22% 8 ▲ ▲ ▲ ▲ ▲ ▲ ▲ Q3 2021 Total Sales: $11.6B, up 10% vs PY
Slide 9: Q3 2021 Eliquis performance
Q3 2021 Results Not for Product Promotional Use US: Continued significant demand growth • Continued strong underlying demand • ~14% TRx growth Q3 2021 Eliquis performance 9Rx Source: Symphony Health Significant future growth opportunity • Expect to continue to grow share within an expanding class In
Slide 10: Q3 2021 Opdivo performance
Q3 2021 Results Not for Product Promotional Use Global net sales up 7% in Q3 U.S. • Continued growth (+4% vs. PY) offset by Q2 inventory destocking (~$40m); 5% demand growth QoQ • 1L lung* shares in low double-digits • Leadership position in 1L renal • Strong initial adoption in Upper GI & adj. esop
Slide 11: Multiple Myeloma performance
Q3 2021 Results Not for Product Promotional Use Q3 2021 Multiple Myeloma performance 11 $548 $586 $229 $265 Q3 2020 Q3 2021 Global sales growth of 11% • US sales growth of 11% ― Increased use of triplet regimens & longer treatment duration • International sales growth of 10% ― Demand from triplet re
Slide 12: Advancing new product portfolio launches
Q3 2021 Results Not for Product Promotional Use Advancing new product portfolio launches 12 $112 $128 $160 $24 $71 $18 $28 $40 $17 $30 $16 $16 $22 $15 $12 $21 $161 $225 $344 Q1 2021 Q2 2021 Q3 2021 Q3 2021 Global Net Sales Reblozyl Abecma Zeposia Breyanzi Inrebic Onureg • Growth from underlying dema
Slide 13: Q3 2021 Financial Performance
Q3 2021 Results Not for Product Promotional Use US GAAP Non-GAAP $ in billions, except EPS Q3 2021 Q3 2020 Q3 2021 Q3 2020 Total Revenues, net 11.6 10.5 11.6 10.5 Gross Margin % 80.3% 76.3% 81.1% 80.6% MS&A 1.8 1.7 1.8 1.7 R&D 3.3 2.5 2.4 2.3 Effective Tax Rate 28.0% 16.8% 14.9% 17.1% Diluted EPS 0.
Slide 14: Significant financial flexibility to support capital allocation
Q3 2021 Results Not for Product Promotional Use Significant financial flexibility to support a balanced approach to capital allocation 14 $B Q3 2021 Total Cash** ~$15.7B Total Debt ~$44.7B Net Debt Position ~$29.0B *Subject to Board approval **Cash includes cash, cash equivalents and marketable debt
Slide 15: 2021 Guidance
Q3 2021 Results Not for Product Promotional Use 2021 Guidance 15 GAAP Non-GAAP July (prior) October (revised) July (prior) October (revised) Net Sales High single-digit increase High single-digit increase High single-digit increase High single-digit increase Gross Margin % ~79% ~79% ~80% ~80% MS&A E
Slide 16: Q&A
Q3 2021 Results Not for Product Promotional Use Q&A Giovanni Caforio, M.D. Board Chair, Chief Executive Officer David Elkins Executive VP, Chief Financial Officer 16 Chris Boerner, Ph.D. Executive VP, Chief Commercialization Officer Samit Hirawat, M.D. Executive VP, Chief Medical Officer, Global Dru
Slide 17: 2021 News Flow
Q3 2021 Results Not for Product Promotional Use 2021 News Flow 17 Asset Timing Opdivo Approval in 1L renal (CM-9ER) Approved in U.S. & EU Opdivo Approval in 1L gastric (CM-649) Approved in U.S. & EU Opdivo Approval in adjuvant esophageal (CM-577) Approved in U.S. & EU Opdivo Approval in adjuvant MIB
Slide 18: Development pipeline by phase
Q3 2021 Results Not for Product Promotional Use Hematology Fibrosis HSP47 LPA1 Antagonist Immunology Oncology Data as of October 27, 2021 Anti-Fucosyl GM1 Anti-OX40 TIGIT BispecificAnti-NKG2A Anti-SIRPα1 AR LDD Anti-CTLA-4 NF Anti-CCR8 Anti-CTLA-4 Probody BCMA TCE CD3xPSCA (GEMoaB)2 IL-12 Fc Anti-IL