Bristol-myers Squibb Company · NYSE:BMY
Bristol-myers Squibb — Q2 2022 Earnings Presentation
17 slides from Bristol-myers Squibb's earnings presentation, Jul 27, 2022
Slide 1: Q2 2022 Results
Q2 2022 Results July 27, 2022 (lh Bristol Myers Squibb”
Slide 2: Forward Looking Statements and Non-GAAP Financial Information
Q2 2022 Results Not for Product Promotional Use 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, resu
Slide 3: Q2 2022 Results - Giovanni Caforio
Not for Product Promotional Use Q2 2022 Results Giovanni Caforio Board Chair and Chief Executive Officer 3
Slide 4: Operational Performance and Key Milestones
Not for product promotional use Operational Performance Strong commercial execution • Q2 sales: ~$11.9B, +2% YoY, +5% ex-FX • Double-digit EPS growth in Q2 • Continued growth for in-line products & strengthened momentum from New Product Portfolio; two new launches YTD with Opdualag & Camzyos Pipelin
Slide 5: Turning Point Therapeutics: Strong Strategic Fit
Not for product promotional use • Potential best-in-class ROS1 inhibitor in NSCLC • Highly potent & differentiated small molecule • Designed to bind in presence of solvent front & gatekeeper mutations Turning Point Therapeutics: Strong Strategic Fit 5 ROS1+ TKI-Naïve NSCLC; cORR (95% CI) 79% TKI-Pre
Slide 6: 2022 Key Milestones
Q2 2022 Results Not for Product Promotional Use 2022 Key Milestones Opdivo (+/- Yervoy) U.S./EU expected approvals: 1L ESCC (CM-648) Neo-adj lung EFS (CM-816) (U.S.) Opdualag 1L melanoma U.S. approval Initiation 2L+ CRC Ph3 bempeg 1L melanoma 1L renal 1L bladder Breyanzi 2L LBCL U.S.
Slide 7: Q2 2022 Results - David Elkins
Not for Product Promotional Use David Elkins Chief Financial Officer 7 Q2 2022 Results
Slide 8: Strong Total Company Performance
Not for product promotional use Strong Total Company Performance 8 Total Company +$11.9B, +2% YoY, +5% Ex-FX $B Q2 Net Sales YoY % Ex-FX % Total Company $11.9 2% 5% In-Line Products $8.7 9% 13% New Product Portfolio $0.5 * * In-Line Products & New Product Portfolio $9.2 11% 16% Recent LOEs1 $2.7 (22
Slide 9: New Product Portfolio Sales Performance
Not for product promotional use $128 $172 $24 $89 $28 $66 $58 $17 $39 $12 $32 $16 $23 $3 $225 $482 Q2 2021 Q2 2022 Q2 2022 vs Q2 2021 $M Reblozyl Abecma Zeposia Opdualag Breyanzi Onureg Inrebic Camzyos New Product Portfolio Sales Performance 9 Revenues more than doubled vs PY $156 $172 $67 $89 $36 $
Slide 10: Q2 2022 Solid Tumor product summary
Not for product promotional use Q2 2022 Solid Tumor product summary 10 Opdivo • U.S. growth driven by demand in 1L lung, 1L renal, 1L gastric, adj. esophageal & adj. bladder cancer • Ex-U.S. growth from new launches in multiple geographies • Continued growth expected from current & new indications Y
Slide 11: Cardiovascular product summary
Q2 2022 Results Not for Product Promotional Use Q2 2022 Cardiovascular product summary 11 Eliquis • Best-in-class medicine & leading product within OAC category • Robust demand in U.S. & favorable gross-to-net adjustments vs PY; ~$200M inventory build vs Q1’22 • Continues to be #1 OAC in key interna
Slide 12: Hematology product summary
Q2 2022 Results Not for Product Promotional Use Q2 2022 Hematology product summary 12 Revlimid – Impacted by generic entry • Continue to expect FY 2022 revenues of $9 - $9.5B Pomalyst – Increased demand as patients move into earlier lines, extending treatment duration Reblozyl • Robust U.S. demand;
Slide 13: Immunology product summary
Q2 2022 Results Not for Product Promotional Use Q2 2022 Immunology product summary 13 Orencia • Continued growth due to higher demand & expanded market share Zeposia • Demand growth including expansion into UC • Favorable inventory & gross-to-net adjustments of +$20M vs Q1’22 • Continue to build vol
Slide 14: Q2 2022 Financial Performance
Q2 2022 Results Not for Product Promotional Use US GAAP Non-GAAP $ in billions, except EPS Q2 2022 Q2 2021 Q2 2022 Q2 2021 Total Revenues, net 11.9 11.7 11.9 11.7 Gross Margin % 77.1% 79% 78.3% 79.8% Operating Expenses1 4.1 4.4 4.1 4.1 Acquired IPR&D 0.4 0.8 0.4 0.8 Amortization of Acquired Intangib
Slide 15: Balanced Approach to Capital Allocation
Q2 2022 Results Not for Product Promotional Use Balanced Approach to Capital Allocation 15 *Cash includes cash, cash equivalents and marketable debt securities **Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information ***Subject to
Slide 16: 2022 Guidance
Q2 2022 Results Not for Product Promotional Use April (Prior) July (Revised) April (Prior) July (Revised) Total net Sales In-line with 2021 ~$46B In-line with 2021 ~$46B Recent LOE Products1 ~$10B or double-digit decline No Change ~$10B or double-digit decline No Change Revlimid $9 - $9.5B No Change
Slide 17: Q&A
Q2 2022 Results Not for Product Promotional Use Q&A Giovanni Caforio, M.D. Board Chair, Chief Executive Officer David Elkins Executive VP, Chief Financial Officer 17 Chris Boerner, Ph.D. Executive VP, Chief Commercialization Officer Samit Hirawat, M.D. Executive VP, Chief Medical Officer, Global Dru