Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — Q3 2024 Earnings Presentation
20 slides from Bristol-myers Squibb's earnings presentation, Oct 31, 2024
Slide 1: Q3 2024 Results
Q3 2024 Results October 31, 2024 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
Q3 2024 Results Chris Boerner, PhD Board Chair and Chief Executive Officer 3
Slide 4: Q3 2024 performance
Q3 2024 performance Commercial Research & Development Growth portfolio revenues: +18% or +20% Ex-FX* YoY Achieved multiple clinical & regulatory milestones1 $ in billions Re-established presence in Neuroscience $11.9 $11.0 $6.1 $6.0 Legacy Growth $4.9 $5.8 Q3 2023 Q3 2024 +40% +80% nivolumab + relat
Slide 5: Launch now underway
Launch now underway Anticipate majority of access by 2H 2025* First new mechanism in decades • ~1.6M patients treated in the U.S.1 • ~70% of patients not well managed with current treatments Novel first-in-class Compelling efficacy with proven safety & tolerability profile schizophrenia • Depth & br
Slide 6: Reshaping the company for long-term sustainable growth
Reshaping the company for long-term sustainable growth Focusing on transformational medicines Driving operational excellence Strategically allocating capital where we have a competitive advantage throughout the organization for long-term growth & returns • Growth portfolio led by Reblozyl, • Focusin
Slide 7: Near-term milestones build pipeline
CAR T in CD19 NEX-T Immunology Phase 1 data at ACR: November 2024 Near-term milestones Extending in build pipeline Subcutaneous nivolumab Immuno- momentum *1 Oncology U.S. FDA PDUFA date: December 29th Expanding in Immunology Phase 3 PsA POETYK-PsA-I & II: data by YE Pipeline enters catalyst-rich pe
Slide 8: Raising our 2024 revenue and EPS outlook
Raising our 2024 revenue and EPS outlook 2024 Guidance Highlights* Total Revenues Expected to increase ~5% Reported Rates Total Revenues Expected to increase ~6% Ex-FX Increasing range to Non-GAAP EPS1 $0.75 - $0.95 *The Company does not reconcile forward-looking non-GAAP measures. See “Forward-Look
Slide 9: Executing on critical business priorities to build a solid foundation
Focusing on commercial execution • Growth Portfolio continues to expand Executing on Re-established presence in Neuroscience critical business • Cobenfy U.S. approval: Multi-billion-dollar potential including LCM priorities to build opportunities a solid foundation Advancing our pipeline for sustain
Slide 10: David Elkins
Q3 2024 Results David Elkins Executive Vice President and Chief Financial Officer 10
Slide 11: Composition of revenue continues to transition to the Growth Portfolio
Composition of revenue continues to transition to the Growth Portfolio Growth Portfolio Legacy Portfolio $ in billions +8% YoY, +10% Ex-FX* $6.1 $6.0 $5.8 $4.9 Other Growth Brands1 Other Mature Brands Q3 2023 Q3 2024 +18% +20% +1% +1% Legacy Growth YoY Ex-FX* YoY Ex-FX* *See “Forward-Looking Stateme
Slide 12: Q3 2024 Oncology product summary
Q3 2024 Oncology product summary Global Net Sales $M YoY % Ex-FX* % Opdivo2: $2,360 +4% +7% • Global sales growth reflects increased volume • Subcutaneous nivolumab: U.S. FDA PDUFA date $642 +11% +13% December 29, 2024 1 $253 (3%) +1% Opdualag3: • U.S. growth driven by strong demand; achieved $233 +
Slide 13: Q3 2024 Cardiovascular product summary
Q3 2024 Cardiovascular product summary Eliquis: Best-in-class & leading OAC within category Global Net Sales • U.S. growth driven by strong underlying demand & increasing market share % $M YoY % Ex-FX* % • #1 OAC in key Ex-U.S. markets1 Camzyos: First-in-class myosin inhibitor $3,002 +11% +11% • Str
Slide 14: Q3 2024 Hematology product summary
Q3 2024 Hematology product summary Global Net Sales 1 $M YoY % Ex-FX* % Reblozyl: $1,412 (1%) (1%) • Strong demand in 1L MDS-associated anemia • Focus on increasing market share in 1L RS negative 1 $898 +3% +3% population • Ex-U.S. growth driven by both European markets3 & $447 +80% +81% recent Japa
Slide 15: Q3 2024 Immunology product summary
Q3 2024 Immunology product summary Global Net Sales Sotyktu: First-in-class TYK2 inhibitor • ~15% sequential growth in commercially paid scripts % $M YoY % Ex-FX % * in the U.S. $936 +1% +3% • Launched in major ex-U.S. markets • Continued focus on demand growth & access $147 +20% +19% improvements S
Slide 16: Q3 2024 Financial Performance
Q3 2024 Financial Performance US US GAAP GAAP Non-GAAP Non-GAAP * $ in billions, except EPS Q3 2024 Q3 2023 Q3 2024 Q3 2023 Total Revenues, net 11.9 11.0 11.9 11.0 Gross Margin % 75.1% 77.1% 76.0% 77.3% Operating Expenses1 4.4 4.2 4.3 4.1 Acquired IPR&D 0.3 0.1 0.3 0.1 Amortization of Acquired Intan
Slide 17: 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 $4.8 $4.3 • Maintain strong investment-grade credit rating $2.8 $2.3 Balance Sheet • Planned debt pay down of
Slide 18: Revised 2024 Guidance
Revised 2024 Guidance Non-GAAP* Key Highlights July (Prior) October (Updated) Total Revenues Upper end of • Raising FY Revenue & EPS guidance due ~5% increase to strength of results YTD Reported Rates low single-digit range Total Revenues Upper end of • Gross Margin range narrowed due to ~6% increas
Slide 19: Delivered Solid Performance in Q3
Delivered Solid Performance in Q3 • Topline growth: +8% or +10% Ex-FX* Q3 Performance • Growth portfolio: +18% or +20% Ex-FX* • Cobenfy: First-in-class medicine with multi-billion-dollar Re-established Presence in potential including LCM opportunities Neuroscience • Launch in schizophrenia now under
Slide 20: Q3 2024 Results Q&A
Q3 2024 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 20
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