Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — Q2 2021 Earnings Presentation
20 slides from Bristol-myers Squibb's earnings presentation, Jul 28, 2021
Slide 1: Q2 2021 Results
Q2 2021 Results July 28, 2021 ill Bristol Myers Squibb”
Slide 2: Forward Looking Statement and Non-GAAP Financial Information
Q2 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: Q2 2021 Results - Giovanni Caforio
Not for Product Promotional Use Q2 2021 Results Giovanni Caforio Board Chair and Chief Executive Officer 3
Slide 4: Operational Performance and Pipeline Execution
Q2 2021 Results Not for Product Promotional Use Operational Performance Strong commercial execution • Sales of $11.7B in Q2; +16% YoY, +13% ex-FX • Strong momentum with launches for I-O and new product portfolio Pipeline Execution Significant milestones • Solid Tumors: Opdivo U.S. approval in adj. E
Slide 5: Expected pipeline milestones
Q2 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 approval 2L TE and
Slide 6: Continued portfolio renewal into 2H of decade
Q2 2021 Results Not for Product Promotional Use Continued portfolio renewal into 2H of decade 6 *Non-risk adjusted revenue potential is subject to positive registrational trials & health authority approval for Reblozyl, Zeposia, Onureg, Inrebic, Breyanzi, Abecma, Deucravacitinib, and Mavacamten Anti
Slide 7: David Elkins, Chief Financial Officer
Not for Product Promotional Use David Elkins Chief Financial Officer 7 Q2 2021 Results
Slide 8: Net Sales: Strong performance in key franchises
Q2 2021 Results Not for Product Promotional Use Net Sales $ in Billions Vs. Prior Year $3.2 11% $2.8 29% $1.9 16% $0.9 15% $0.8 9% $0.5 6% $0.5 38% $0.3 4% Strong performance in key franchises 8 Net Sales $ in Billions Vs. Prior Year $6.1 6% $5.7 18% $3.6 6% $1.6 12% $1.6 7% $1.0 2% $1.0 26% $0.6 0%
Slide 9: Eliquis performance
Q2 2021 Results Not for Product Promotional Use US: Continued significant demand growth • Q2 sales up 26% vs PY; 16% YTD • Continued strong underlying demand • ~14% TRx growth Q2 2021 Eliquis performance 9Rx Source: Symphony Health Significant future growth opportunity • Expect to continue to grow s
Slide 10: Opdivo performance
Q2 2021 Results Not for Product Promotional Use Global net sales up 16% in Q2 U.S. • Return to growth (+13% vs. PY) • 1L lung* shares in low double-digits • Leadership position in 1L renal enabled by O+Cabo • Strong early launches in Upper GI International • Momentum from new launches, FX, improved
Slide 11: Multiple Myeloma performance
Q2 2021 Results Not for Product Promotional Use Q2 2021 Multiple Myeloma performance 11 $522 $567 $223 $287 Q2 2020 Q2 2021 Global sales growth of 11% • US sales growth of 6% • Increased use of triplet regimens & longer treatment duration • Recovery to pre-COVID levels in NRx • International sales g
Slide 12: Advancing new product launches
Q2 2021 Results Not for Product Promotional Use • Continued transition from initial bolus to underlying incidence demand • Remain focused on new patients earlier in their treatment journey & dose optimization • Expansion in global markets Advancing new product launches 12 • #1 S1P modulator in writt
Slide 13: Cell Therapy Performance
Q2 2021 Results Not for Product Promotional Use Cell Therapy Performance 13 • Rapid site activation (>65 sites) • Strong demand and physician awareness Best-in-class CD19 CAR T Global net sales: $17M First-in-class BCMA CAR T Global net sales: $24M Two differentiated CAR T products, now in the marke
Slide 14: New Launch Sales Performance
Q2 2021 Results Not for Product Promotional Use New Launch Sales Performance • Contributed $225M in Q2’21 • Approaching ~$1B annual run rate • Strong outlook for future growth 14 $71 $153 $225 Q2 2020 Q4 2020 Q2 2021 US International New Launches are comprised of Reblozyl, Zeposia, Onureg, Breyanzi,
Slide 15: Q2 2021 Financial Performance
Q2 2021 Results Not for Product Promotional Use US GAAP Non-GAAP $ in billions, except EPS Q2 2021 Q2 2020 Q2 2021 Q2 2020 Total Revenues, net 11.7 10.1 11.7 10.1 Gross Margin % 79.0% 73.4% 79.8% 80.5% MS&A 1.9 1.6 1.9 1.6 R&D 3.3 2.5 2.3 2.2 Effective Tax Rate 31.7% 104.9% 16.9% 13.8% Diluted EPS 0
Slide 16: Financial flexibility for balanced capital allocation
Q2 2021 Results Not for Product Promotional Use Significant financial flexibility to support a balanced approach to capital allocation 16 $B Q2 2021 Total Cash** $13.1B Total Debt $45.2B Net Debt Position $32.0B *Subject to Board approval **Cash includes cash, cash equivalents and marketable debt se
Slide 17: 2021 Guidance Details
Q2 2021 Results Not for Product Promotional Use 2021 Guidance Details 17 GAAP Non-GAAP Net Sales High single-digit increase High single-digit increase Gross Margin % ~79% ~80% MS&A Expense In line with 2020 Low single-digit increase R&D Expense Low single-digit decrease Mid single-digit increase Tax
Slide 18: Q&A
Q2 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 18 Chris Boerner, Ph.D. Executive VP, Chief Commercialization Officer Samit Hirawat, M.D. Executive VP, Chief Medical Officer, Global Dru
Slide 19: 2021 News Flow
Q2 2021 Results Not for Product Promotional Use 2021 News Flow 19 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. Opdivo Approval in adjuvant esophageal (CM-577) Approved MAA under review Opdivo Approval in adjuvant MIBC
Slide 20: Early clinical pipeline by phase
Not for product promotional use Hematology Fibrosis pegbelfermin HSP47 LPA1 Antagonist JNK Inhibitor Immunology Oncology Data as of July 21, 2021 Anti-Fucosyl GM1 Anti-OX40 STING Agonist Anti-NKG2A Anti-SIRPα* Anti-TIM3 Anti-CTLA-4 NF Anti-CCR8 Anti-CTLA-4 Probody BCMA TCE AR LDD CD3xPSCA (GEMoaB)**