Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — Q1 2025 Earnings Presentation
16 slides from Bristol-myers Squibb's earnings presentation, Apr 24, 2025
Slide 1: Q1 2025 Results
Q1 2025 Results April 24, 2025 Not for Product Promotional Use
Slide 2: Forward Looking Statements and Non-GAAP Financial Information
Forward Looking Statements and Non-GAAP Financial Information This presentation contains statements about Bristol-Myers Squibb Company’s (the believes that the non-GAAP financial measures presented portray the results of the “Company”) future financial results, plans, business development strategy,
Slide 3: Chris Boerner, PhD
Q1 2025 Results Chris Boerner, PhD Board Chair and Chief Executive Officer 3
Slide 4: Q1 2025 Performance
Q1 2025 Performance Commercial Execution R&D Milestones Global Net Sales: Q1:~$11.2B (6%) YoY; (4%) Ex-FX* Achieved multiple clinical & regulatory milestones1 Growth Portfolio Net Sales +16%; +18% Ex-FX* $ in billions $4.8 $5.6 milvexian2 Q1 2024 Q1 2025 Financial Execution 2025 Guidance3,4 Earnings
Slide 5: Entering data rich period with multiple catalysts
Entering data rich period with multiple catalysts * 2025–2027 key milestones LCM pivotal data NME registrational data* Key next wave of early-stage data 2025 2025 2025 • • Iberdomide RRMM (EXCALIBER-RRMM)1 • CD19 NEX-T Autoimmune Diseases (Breakfree-1 & 2) • • Krazati 1L NSCLC (TPS <50%) (KRYSTAL-17
Slide 6: David Elkins
Q1 2025 Results David Elkins Executive Vice President and Chief Financial Officer 6
Slide 7: Revenue continues to transition to the Growth Portfolio
Revenue continues to transition to the Growth Portfolio $ in billions Growth Portfolio Legacy Portfolio (6%) YoY, (4%) Ex-FX* 1 $11.9 $11.2 $7.1 $5.6 +16% YoY $4.8 $5.6 +18% * Ex-FX Other Mature Brands Q1 2024 Q1 2025 Other Growth Brands2 Legacy Growth *See “Forward-Looking Statements and Non-GAAP F
Slide 8: Q1 2025 Oncology product summary
Q1 2025 Oncology product summary Global Net Sales1 Opdivo $M YoY % Ex-FX* % • Global sales reflect volume growth $2,265 +9% +12% Opdualag $624 +7% +9% • U.S. sales growth driven by strong demand; ~30% market share3 as a SOC in 1L melanoma $252 +23% +23% Opdivo Qvantig4 • Positive initial feedback; e
Slide 9: Q1 2025 Hematology product summary
Q1 2025 Hematology product summary Global Net Sales Reblozyl $M YoY % Ex-FX* % • 1L MDS-associated anemia now accounts for the majority of new patient starts $936 (44%) (44%) • Ex-U.S. growth driven by new launches across Europe 1 & Japan $658 (24%) (24%) Breyanzi $478 +35% +36% • #1 CAR T in the U.
Slide 10: Q1 2025 Cardiovascular product summary
Q1 2025 Cardiovascular product summary Global Net Sales Camzyos U.S. Quarterly TRx1 Q1 2025 TRx: ~25K $M YoY % Ex-FX* % +19% $3,565 (4%) (3%) $159 +89% +90% Camzyos • Continued strong U.S. demand in oHCM o ~11K patients on commercial drug (~1.4K added in Q1’25) o Favorable U.S. label update (eased R
Slide 11: Q1 2025 Immunology product summary
Q1 2025 Immunology product summary Global Net Sales Sotyktu U.S. Quarterly TRx1 +9% Q1 2025 TRx: ~17K $M YoY % Ex-FX* % $770 (4%) (2%) $55 +27% +29% Sotyktu • U.S. access improvements effective January 1, 2025 (~80% of covered lives with zero step edits) • Leverage broader U.S. access position to dr
Slide 12: Q1 2025 Neuroscience product summary
Q1 2025 Neuroscience product summary Global Net Sales Cobenfy Weekly TRx3 1,800 $M YoY % Ex-FX* % 1,6554 1,600 1 $107 (3%) (2%) 1,400 2 1,200 $27 --- --- 1,000 800 Cobenfy 600 • Feedback continues to underscore strength of Christmas & differentiated efficacy & safety profile 400 New Years • Focused
Slide 13: Q1 2025 Financial Performance
Q1 2025 Financial Performance US US GAAP GAAP Non-GAAP Non-GAAP * $ in billions, except EPS Q1 2025 Q1 2024 Q1 2025 Q1 2024 Total Revenues, net 11.2 11.9 11.2 11.9 Gross Margin % 72.9% 75.3% 73.1% 75.5% Operating Expenses1 3.8 5.1 3.8 4.3 Acquired IPR&D 0.2 12.9 0.2 12.9 Amortization of Acquired Int
Slide 14: Strategic approach to Capital Allocation
Strategic approach to Capital Allocation Cash flow from Operations $B Business • Pursue opportunities and partnerships to diversify Development portfolio & strengthen long-term outlook $5.6 $4.4 $2.8 • Maintain strong investment-grade credit rating $2.3 Balance Sheet $2.0 • On track to pay down ~$10
Slide 15: Revised 2025 Guidance
Revised 2025 Guidance* Non-GAAP1 Key Highlights February (Prior) April (Updated) • FY revenue vs. prior guidance primarily reflects: Total FY Revenues • ~$500M favorable Legacy Portfolio sales; now ~$45.5B ~$45.8 - $46.8B (Reported & Ex-FX) expect ~16% - 18% decline (previously ~18% - 20%)3 Gross Ma
Slide 16: Q1 2025 Results Q&A
Q1 2025 Results Q&A Chris Boerner, PhD David Elkins Samit Hirawat, MD Adam Lenkowsky Board Chair, Executive VP, Executive VP, Executive VP, Chief Executive Officer Chief Financial Officer Chief Medical Officer, Chief Commercialization Officer Global Drug Development 16
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