UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number 001-01136 ___________________________ BRISTOL-MYERS SQUIBB COMPANY ( ...

Summary of Bristol-Myers Squibb Company Conference Call Company Overview - **Company**: Bristol-Myers Squibb Company (NYSE: BMY) - **Participants**: Giovanni Caforio (Chairman & CEO), Christopher Boerner (EVP & COO) Key Industry Insights - **Impact of IRA**: The Inflation Reduction Act (IRA) is anticipated to affect pricing negotiations for drugs, including Eliquis, which is a significant product for the company. The company is preparing to engage with CMS regarding pricing negotiations starting in Q1 2024 [2][3][4] - **Eliquis Economics**: Eliquis sales are split with Pfizer, meaning for every $100 in sales, $50 goes to Pfizer. Approximately 60% of Eliquis demand comes from Medicare, and the product is already heavily discounted [5][6] - **Concerns with IRA**: The company expresses concerns about the IRA's potential negative impact on innovation, particularly in oncology, due to government price-setting and lack of negotiation flexibility [9][12] Legal Actions - **Lawsuit Against IRA**: The company has filed a lawsuit against the IRA, citing concerns over price-setting criteria and the lack of options for companies to refuse government-set prices [10][11][12] Capital Allocation Strategy - **Business Development Focus**: Business development remains the top priority for capital allocation, with a focus on strategic, scientific, and financial sense in potential deals. The company aims to enhance its growth profile through these deals [14][15][16] - **Share Repurchase**: The recent share repurchase is not indicative of a lack of business development opportunities but rather a strategic decision based on the company's strong financial position [18][19] New Product Cycle - **Sales Growth Expectations**: The company aims to double sales from new product launches this year compared to last year, with a strong focus on products like SOTYKTU, Reblozyl, and Camzyos [20][21][22] - **SOTYKTU Performance**: SOTYKTU has shown strong volume growth, with a significant percentage of new patients being naive to other therapies. The company is focused on establishing it as the standard of care for psoriasis [24][32] - **Camzyos Market Expansion**: The company is expanding Camzyos' market presence beyond specialist centers to community settings, leveraging the Eliquis sales force. Patient retention on Camzyos is strong, indicating positive long-term potential [42][46] Competitive Landscape - **CAR-T Therapy Dynamics**: The company faces competition in the CAR-T space, particularly from bispecific therapies. However, it believes that its product, Abecma, has strong clinical data supporting its use and is focused on addressing competitive dynamics [54][55] - **GPRC5D Targeting**: The company is excited about its GPRC5D-targeting CAR-T therapy, which is entering the next phase of development, indicating a commitment to innovative treatment options [59] Financial Outlook - **Operating Margins**: The company aims for a 40% operating margin by 2025, despite challenges from generic competition affecting gross margins. The transition to high-margin products is expected to support margin recovery [62][64] Additional Notes - **Regulatory and Market Access**: The company is actively working on improving access to its products and is focused on maintaining a strong presence in the market despite regulatory challenges [25][49] - **Future Product Development**: Ongoing development programs for SOTYKTU in other indications like psoriatic arthritis and lupus are in progress, with expectations for significant market impact [40][41]

Bristol-Myers Squibb Company (NYSE:BMY) Q2 2023 Earnings Call Transcript July 27, 2023 8:00 AM ET Company Participants Timothy Power - VP & Head, IR Giovanni Caforio - Chairman & CEO David Elkins - EVP & CFO Christopher Boerner - EVP & Chief Commercialization Officer Adam Lenkowsky - Chief Commercialization Officer Samit Hirawat - EVP & Chief Medical Officer, Global Drug Development Conference Call Participants Chris Shibutani - Goldman Sachs Evan Seigerman - BMO Capital Markets Geoff Meacham - Bank of Amer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number 001-01136 ___________________________ BRISTOL-MYERS SQUIBB COMPANY (Exact ...

Bristol-Myers Squibb Company (NYSE:BMY) Goldman Sachs 44th Annual Global Healthcare Conference June 13, 2023 11:40 AM ET Company Participants Lynelle Hoch - SVP, Global Cell Therapy Franchise Roland Chen - SVP, Cardiovascular Development Conference Call Participants Chris Shibutani - Goldman Sachs Chris Shibutani Okay. Let's get under way. Good morning, everybody. Welcome to the second day of the 44th Annual Goldman Sachs Healthcare Conference. We are very pleased to have Bristol-Myers join us. Today from t ...

Bristol-Myers Squibb Company (NYSE:BMY) Jefferies Healthcare Conference June 8, 2023 9:00 AM ET Company Participants Adam Lenkowsky - Chief Commercialization Officer Conference Call Participants Akash Tewari - Jefferies Akash Tewari All right. Good morning, everyone. Thank you for joining us Day Two of the Jefferies Healthcare Conference here in beautiful Times Square. For those who don't know me, my name is Akash Tewari. I'm a pharma biotech analyst here at Jefferies, and I have the pleasure of hosting Bri ...

Bristol-Myers Squibb Company (NYSE:BMY) 2023 Virtual ASCO Investor Event Conference June 6, 2023 8:00 AM ET Company Participants Tim Power - Investor Relations Samit Hirawat - Chief Medical Officer Adam Lenkowsky - Chief Commercialization Officer Lynelle Hoch - Senior Vice President, Cell Therapy Franchise Lead Rosanna Ricafort - Vice President Cell Therapy Clinical Development Lead Conference Call Participants Chris Schott - JPMorgan Carter Gould - Barclays Matt Phipps - William Blair Dane Leone - Raymond ...

Bristol-Myers Squibb Company (NYSE:BMY) Bank of America Securities 2023 Health Care Conference May 9, 2023 11:40 AM ET Company Participants Adam Lenkowsky - EVP, Head of Commercial Conference Call Participants Geoff Meacham - Bank of America Geoff Meacham Welcome to the first morning of the BofA Healthcare Conference. My name is Geoff Meacham. I'm a senior biopharma analyst, and we are excited to have Bristol-Myers here. And Adam Lenkowsky is here, who recently was promoted to EVP, Head of Commercial. So co ...

Bristol-Myers Squibb Company (NYSE:BMY) Q1 2023 Earnings Conference Call April 27, 2023 8:00 AM ET Company Participants Timothy Power - VP & Head, IR Giovanni Caforio - Chairman & CEO David Elkins - EVP & CFO Christopher Boerner - EVP & Chief Commercialization Officer Samit Hirawat - EVP & Chief Medical Officer, Global Drug Development Conference Call Participants Seamus Fernandez - Guggenheim Andrew Baum - Citi Chris Schott - JPMorgan Steve Scala - Cowen Chris Shibutani - Goldman Sachs Geoff Meacham - Bank ...