Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — January 2023 J.P. Morgan Healthcare Conference
33 slides from Bristol-myers Squibb's conference presentation, Jan 9, 2023
Slide 1: January 2023 JP Morgan Presentation
January 2023 JP Morgan Presentation
Slide 2: Forward Looking Statements and Non-GAAP Financial Information
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, results and regulatory approvals that constitute for
Slide 3: Our Strategic Foundation
Our Strategic Foundation 3 A differentiated biopharma company focused on innovative medicines for patients with cancer and other serious diseases BEST OF BIOTECH BEST OF PHARMA Leading scientific innovation Collaborating at center of the biotech ecosystem Leveraging global scale and agility Driven b
Slide 4: Portfolio Strength and Breadth Across Key Franchises
Cardiovascular Portfolio Strength and Breadth Across Key Franchises 4 NewProductPortfolio Robust early-stage pipeline with 50+ assets in development iberdomide2 milvexian3 cendakimab2 InlineBrands Mid-to- late-stage Pipeline mezigdomide2 alnuctamab BCMA TCE1 repotrectinib2 LPA1 antagonist3 AR-LDD1 C
Slide 5: Delivered Significant Financial & Portfolio Milestones Through Strong Execution
MYOK, TPTX 15+ Delivered Significant Financial & Portfolio Milestones Through Strong Execution 5 Sales growth High single-digit Non-GAAP EPS growth Mid-20s Cost synergies $3B+ $40B+ Significant Operating Cash Flow2 3 First-in-Class Assets Approved in 2022 BD execution Added new indications across po
Slide 6: Strategically Positioned for Waves of Innovation
Strategically Positioned for Waves of Innovation 6 Additional optionality from disciplined business development 9 NMELaunches inNew Product Portfolio 6Next Wave RegistrationalStage Assets 50+Assets in Early Development Revenue Time Wave 1 Wave 2 Wave 3 Illustrative
Slide 7: Multiple Paths for Long-Term Growth
Multiple Paths for Long-Term Growth 7 2020-2025 On track to deliver Low-to-mid single digit revenue CAGR* $8B - 10B growth from in-line brands (primarily I-O & Eliquis) $10B - 13B from New Product Portfolio 40%+ operating margin** 2025 Revenues LOE Brands 2030Revenues Additionalgrowth fromNew Produc
Slide 8: Younger & More Diversified Portfolio Through the Decade
Younger & More Diversified Portfolio Through the Decade 8 Not for Product Promotional Use New Product Portfolio = Abecma, Breyanzi, Inrebic, Onureg, Reblozyl, Zeposia, Sotyktu, Camzyos, Opdualag Overall Portfolio – Stage in Life Cycle ProductDiversification Later Earlier NewProductPortfolio New Prod
Slide 9: Well Positioned for Portfolio Renewal & Long-Term Growth
Well Positioned for Portfolio Renewal & Long-Term Growth 9 1. Portfolio renewal well-underway: 9 new launches 2. Next wave of innovation: 6 registrational stage pipeline assets 3. Optionality from early-stage pipeline & BD
Slide 10: Strong Progress with New Product Portfolio
Strong Progress with New Product Portfolio 10 >$2B annual run-rate 10+ potential additional indications New Product Portfolio Strong Momentum $5 $1 +61% Q3 2022 Versus Prior Year
Slide 11: First-in-Class Myosin Inhibitor Approved in U.S. for oHCM
First-in-Class Myosin Inhibitor Approved in U.S. for oHCM 11 Strong momentum into 2023 VALOR PDUFA June 16, 2023 Initiated Ph3 trial in nHCM (ODYSSEY-HCM) $4B+ 2030 NRA sales potential Progress Driving Adoption 1BMS Market Research NRA: Non-Risk Adjusted sales subject to positive registrational tria
Slide 12: First-in-Class Selective Allosteric TYK2 Inhibitor
First-in-Class Selective Allosteric TYK2 Inhibitor 12 U.S. Approval September 2022 – EU expected 2023 TRx equivalent = commercial and bridge prescriptions NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approvalFinancial projections may contain non promote
Slide 13: First-in-Class LAG-3 Inhibitor Relatlimab Approved in 1L Melanoma
First-in-Class LAG-3 Inhibitor, Relatlimab, as Fixed Dose Combination with Nivolumab Approved in 1L Melanoma 13 Our 3rd approved I-O agent; Potential to be new SOC in 1L melanoma Clinically meaningful efficacy Continued U.S. revenue growth driven by strong demand Broad Expansion Opportunities Share
Slide 14: New Product Portfolio Significantly De-Risked with Important Catalysts Ahead
Camzyos nHCM Sotyktu SLE Opdualag 1L NSCLC Breyanzi 3L+ CLL Breyanzi 3L+ iNHL Reblozyl MF Planned Next 1-2 Years Sotyktu PsA Zeposia CD Milestones Already Delivered that De-Risk 2025–2030 and Beyond Zeposia MS Reblozyl 2L TD MDS Breyanzi 3L+ LBCL Abecma 5L+ Zeposia UC Camzyos oHCM Sotyktu PsO Opdual
Slide 15: Well Positioned for Portfolio Renewal & Long-Term Growth
Well Positioned for Portfolio Renewal & Long-Term Growth 15 1. Portfolio renewal well-underway: 9 new launches 2. Next wave of innovation: 6 registrational stage pipeline assets 3. Optionality from early-stage pipeline & BD
Slide 16: Exciting Registrational Stage Portfolio with Differentiated Assets
Exciting Registrational Stage Portfolio with 6 Differentiated Assets — Further Supports Growth Opportunity in 2H of Decade 16 Next generation anti-thrombotic Ph3 program initiating in 2023 in SSP, Afib, & ACS milvexian Planned launch in ROS1+ NSCLC Potential best-in-class ROS1/NTRK inhibitor repotre
Slide 17: Milvexian: Next-Generation Antithrombotic
LPA1 cendakimab repotrectinib CELMoDs Milvexian: Next-Generation Antithrombotic with $5B+ NRA Potential1 With Positive POC Data Supporting Phase 3 Initiation 17 Differentiated Monotherapy Profile AXIOMATIC-TKR Phase 2 data (NEJM 2021) Clear efficacy vs. enoxaparin Differentiated safety profile vs. F
Slide 18: Novel CELMoD Agents in Multiple Myeloma
Novel CELMoD Agents: Opportunity to Sustain a Leadership Position in Multiple Myeloma 18 Potency translating to strong response rates in a heavily pretreated 4L+ patient population, including IMiD-refractory & anti-BCMA-exposed 40% ORR; 50% ORR in patients with prior BCMA-targeted therapy2 Profile s
Slide 19: LPA1 Antagonist (BMS-986278): Novel Treatment for Lung Fibrosis
LPA1 Antagonist (BMS-986278): First-in-Class Novel Treatment for Lung Fibrosis 19 IPF is a fatal lung disease with median 3-5 years survival In 2021, >700,000 adults living with IPF globally1 Worldwide sales2 of 2 approved agents $3B+ Significant Unmet Need and Market Development Plans LPA1 is centr
Slide 20: Repotrectinib: Potential Best-in-Class ROS1 Inhibitor in NSCLC
LPA1 Clinically differentiated profile in NSCLC Repotrectinib: Potential Best-in-Class ROS1 Inhibitor in NSCLC 20 ROS1 Prevalence:~1.5% of NSCLC patients2 Existing ROS1 market:~$500-$600M3 Opportunity to roughly double the ROS1 market & achieve best-in-class share based on: Longer duration of respon
Slide 21: Cendakimab: High-Affinity IL-13 Neutralizing Antibody for EoE
EoE is a life altering disease affecting ~700k1 prevalent patients (combined U.S./EU5) Potentially differentiated MoA addressing a significant unmet need for a highly efficacious treatment that improves both inflammation & fibrosis/remodeling Cendakimab: High-Affinity IL-13 Neutralizing Antibody for
Slide 22: Well Positioned for Portfolio Renewal & Long-Term Growth
Well Positioned for Portfolio Renewal & Long-Term Growth 22 1. Portfolio renewal well-underway: 9 new launches 2. Next wave of innovation: 6 registrational stage pipeline assets 3. Optionality from early-stage pipeline & BD
Slide 23: Robust Early-Stage Pipeline Provides Potential for Future Growth
Robust Early-Stage Pipeline Provides Potential for Future Growth 23 50+ Assets inPhase 1/2* Results Expected Next 18-24 Months InnovationEngine Small Molecule | Complex Biotherapeutics | Protein Homeostasis | Cell Therapy Leading Drug Discovery Platforms Solid Tumors 24 Hematology 12 Immunology & Fi
Slide 24: Near-Term Opportunities to Potentially Transition to Registrational Development
3 Near-Term Opportunities to Potentially Transition to Registrational Development 24 CELMoD targeting lymphoma with optionality to combine with SOC & novel agents Opportunity to move into earlier lines POC data expected in 2023 to inform Ph3 CC-99282 Potentially differentiated BCMA bispecific with a
Slide 25: 2023 Key Milestones
2023 Key Milestones Opdivo (+/- Yervoy) Early Stage: Neo-adjuvant NSCLC Ph3 (CM-816) approval in EU Metastatic 1L mCRPC Ph3 (CM-7DX) Opdualag 1L NSCLC Ph2 repotrectinib ROS1+ NSCLC (TRIDENT-1) U.S. filing Abecma 3-5L MM Ph3 (KarMMa-3) filing Initiation NDMM Ph3 (KarMMa-9) Breyanzi 2L TE LBCL EU appr
Slide 26: Strong Cash Flow & Financial Flexibility Enables Balanced Capital Allocation
Strong Cash Flow & Financial Flexibility Enables Balanced Approach to Capital Allocation 26 *Future dividend payouts subject to board authorization 1 As of Q3’22 Prioritizing Business Development Strengthening theBalance Sheet Returning Cash to Shareholders Continue to focus on bolt-on opportunities
Slide 27: Business Development: Converting Balance Sheet Strength to Revenue Growth
Business Development: Converting Balance Sheet Strength to Revenue Growth 27 7 new product approvals 30+ clinical pipeline assets2 2 new research platforms (Protein Homeostasis, Cell Therapy) of expected revenue in 2030 Company Strengths Transaction Benefits Achieved1 Supporting 2H of Decade Strengt
Slide 28: Well Positioned for Portfolio Renewal & Long-Term Growth
Well Positioned for Portfolio Renewal & Long-Term Growth 28 Positioned for waves of innovation Increasingly younger and more diversified portfolio Strong scientific expertise across key therapeutic areas Expanded registrational stage pipeline of 6 assets Significant optionality from 50+ assets in ea
Slide 29: Bristol Myers Squibb
(lh Bristol Myers Squibb”
Slide 30: Reconciliation of Certain GAAP Line Items to Non-GAAP Line Items
Year-Ended December 31 2020 2021 2021 Total Revenues $42,518 $46,385 Gross Profit $30,745 $36,445 Specified items (a) $3,300 $603 Gross Profit excluding specified items $34,045 $37,048 Marketing, selling and administrative $7,661 $7,690 Specified items (a) ($279) ($3) Marketing, selling and administ
Slide 31: Clinical Development Portfolio – Phase I and II
Phase I Clinical Development Portfolio – Phase I and II NME leading indication Hematology Neuroscience Oncology Fibrosis Immunology CV COVID-19 ^ Trials exploring various combinations 1. BMS has an exclusive option to license and/or option to acquire ª Anti-CTLA-4 NF Solid Tumors ª Anti-CTLA-4 Probo
Slide 32: Clinical Development Portfolio – Phase III and Registration
32 Development Partnerships: ABECMA (ide-cel): 2seventy bio; AHR: Ikena Oncology; Anti-Tau: Prothena; CAMZYOS in China, Singapore, Thailand, Macau, HK, Taiwan: LianBio; CD3xPSCA: Avencell; eIF2b Activator: Evotec; TIGIT Bispecific: Agenus; ELIQUIS: Pfizer; EMPLICITI: AbbVie; farletuzumab ecteribulin
Slide 33: Our Commitment as a Purpose Driven Organization
Our Commitment as a Purpose Driven Organization 33 Embracing environmental stewardship Experienced & diverse Board Board oversight of strategy& key enterprise risks 64% female & ethnically diverse directors Shareholder rights Regular shareholder engagement Proxy access Special meeting right (15%) En
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