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 ...

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 March 31, 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 (Exac ...

Start Time: 09:50 January 1, 0000 10:22 AM ET Bristol-Myers Squibb Company (NYSE:BMY) Cowen 43rd Annual Healthcare Conference March 07, 2023, 09:50 AM ET Company Participants Samit Hirawat - EVP, Chief Medical Officer, and Drug Development Conference Call Participants Steve Scala - Cowen and Company Mike Nedelcovych - Cowen and Company Steve Scala Welcome to the Cowen conference. Representing the company is Samit Hirawat, who is Executive Vice President and Chief Medical Officer and the Global Head of Drug ...

Business Operations - The company operates in the biopharmaceutical segment, focusing on oncology, hematology, immunology, cardiovascular, and neuroscience[5] - Significant manufacturing operations are located in the U.S., Puerto Rico, Ireland, and Switzerland[5] - The company competes with global research-based drug companies, smaller research firms, and generic drug manufacturers[5] - The company manages its R&D programs on a product portfolio basis, ensuring a balance of early-stage and late-stage programs to support future growth[46] Financial Performance - Total revenues for the year ended December 31, 2022, were $46,159 million, a slight decrease from $46,385 million in 2021[6] - Revenue distribution: 69% from the United States, 29% from international markets, and 2% from other sources[6] - R&D expenses were $9.5 billion in 2022, $10.2 billion in 2021, and $10.0 billion in 2020, with a significant charge of $11.4 billion in 2020 due to the MyoKardia acquisition[45] Research and Development - The company is committed to advancing its early, mid, and late-stage pipeline through disciplined business development[5] - The company focuses its R&D efforts on oncology, hematology, immunology, cardiovascular diseases, and fibrotic diseases, with a pipeline that includes small molecules, biologics, and gene therapies[40] - The oncology pipeline includes multiple investigational compounds across various phases, including OPDIVO and YERVOY combinations for solid tumors and metastatic cancers[52] - The immunology pipeline features investigational compounds like SOTYKTU (deucravacitinib) for conditions such as Crohn's Disease and Psoriatic Arthritis[54] - The cardiovascular pipeline includes CAMZYOS (mavacamten) for heart failure with preserved ejection fraction and non-obstructive hypertrophic cardiomyopathy[56] Product Portfolio and Market Exclusivity - The pharmaceutical products include small molecule drugs, biologics, and CAR-T therapies, with a focus on innovative treatments[9] - The company holds numerous patents and trademarks, which are crucial for maintaining market exclusivity for its products[16] - The estimated minimum market exclusivity date for Eliquis (apixaban) is 2026 in the U.S., 2026 in the EU, and 2026 in Japan[37] - The company’s marketed biologic products include Opdivo, Orencia, Yervoy, and Empliciti, with varying market exclusivity dates[28] Manufacturing and Facilities - The company is expanding its manufacturing capabilities with new R&D facilities planned in Cambridge, Massachusetts (2023) and San Diego, California (2025) alongside new cell therapy manufacturing facilities in Devens, Massachusetts and Leiden, Netherlands[47] - The FDA approved a large-scale biologics manufacturing facility in Cruiserath, Ireland in December 2019, and the EU approval followed in January 2020[98] - The company is investing in new facilities for CAR-T cell therapy manufacturing and plans to transition to new vector technologies with a dual sourcing strategy[98] Competition and Market Challenges - The company faces intense competition in the immuno-oncology market, particularly for products like Opdivo, which competes with both existing and new therapies[72] - The competitive landscape includes challenges from generic manufacturers, particularly after the expiration of market exclusivity, which can lead to rapid revenue declines[73] - The company faces increasing pricing pressures due to government regulations, including the Inflation Reduction Act of 2022, which may further reduce drug costs for federal programs[78] Pricing and Access Strategies - Pricing strategies are based on the clinical value of innovations and aim to enhance patient access while sustaining investment in R&D[77] - The company actively pursues new pricing approaches and patient support programs to optimize access to medicines[77] - The company has generally succeeded in having its major products included on MCO or pharmacy benefit manager (PBM) formularies, which is crucial for market access[79] Regulatory Environment - The company is subject to extensive global regulations that govern the testing, approval, and marketing of its products, which can delay product introductions[82] - The FDA's regulatory review process is resource-intensive, and improvements in efficiency could expedite the availability of new therapies[83] - The company must comply with stringent cGMP regulations, and failure to do so could result in significant legal and operational consequences[85] Workforce and Diversity - As of December 31, 2022, the company had approximately 34,300 employees in 44 countries, with 60% located in the U.S.[107] - The company maintains a Global Inclusion & Diversity strategy, with over 12,200 unique members across 200+ chapters in 41 countries as of December 31, 2022[112] - In 2022, over 6,800 employees enrolled in professional, manager, and leadership development programs, supporting the company's commitment to employee growth[114] Foreign Exchange and Credit Risk - The company is exposed to significant foreign exchange risk, primarily with the euro and Japanese yen, affecting revenues, earnings, and cash flow[329] - The company uses cross-currency interest rate swap contracts to manage risks from long-term debt denominated in euros[332] - The company has a policy to invest only in institutions that meet high credit quality standards to minimize credit risk[333]

Bristol-Myers Squibb Company (NYSE:BMY) Q4 2022 Earnings Conference Call February 2, 2023 9:00 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 Geoffrey Meacham - Bank of America Chris Shibutani - Goldman Sachs Christopher Schott - JPMorgan Seamus Fernandez - Guggenheim Securities Ste ...

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, 2022 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 ( ...

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, 2022 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 ...

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 March 31, 2022 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 (Exac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-K ___________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 nam ...