Bristol Myers Squibb to Highlight Long-Term Growth Strategy at J.P. Morgan’s 40th Annual Healthcare Conference

Bristol Myers Squibb (NYSE:BMY) will highlight progress against the Company’s growth strategy and outlook for 2022 during a presentation scheduled today at 7:30 a.m. ET at the 40^th Annual J.P. Morgan Healthcare Conference.

“We are successfully transforming the company by further diversifying our product portfolio, launching breakthrough new medicines that benefit our patients and advancing a robust product pipeline that will help us deliver sustained growth,” said Giovanni Caforio, M.D., board chair and chief executive officer, Bristol Myers Squibb. “We are entering 2022 excited about the growth opportunities in our in-line brands and new product portfolio. With our strong financial position, we continue to invest in internal and external innovation to further enhance and diversify our pipeline, while delivering new medicines to patients with serious disease and creating long-term value for our shareholders.”

Highlights of the presentation

Bristol Myers Squibb’s presentation will focus on four key drivers positioning the Company for sustained growth and value creation, helping to offset losses of exclusivity in the coming years. The drivers build upon a strong foundation of existing in-line products, including Opdivo (nivolumab), Yervoy (ipilimumab) and Eliquis (apixaban), which are expected to contribute approximately $8-$10 billion in revenue growth during the period of 2020-2025. The drivers include:

• New product portfolio with significant growth potential. With six recent launches (Abecma (idecabtagene vicleucel), Breyanzi (lisocabtagene maraleucel), Inrebic(fedratinib), Onureg(azacytidine), Reblozyl (luspatercept-aamt) and Zeposia(ozanimod)) and three launches anticipated in 2022 (relatimab and nivolumab fixed dose combination, mavacamten, deucravacitinib), Bristol Myers Squibb’s renewed and diverse product portfolio has the potential to deliver:
  • $10-$13 billion of risk-adjusted revenue in 2025;
  • More than $25 billion non-risk-adjusted revenue in 2029; and
  • At least $4 billion of non-risk adjusted revenue in 2029 for each of the following recent or anticipated new products: Reblozyl, relatimab and nivolumab fixed dose combination, mavacamten and deucravacitinib.

• Promising mid- to late-stage assets with large commercial opportunities. Bristol Myers Squibb has seven key assets in its mid-to-late-stage pipeline focused on disease areas where there are meaningful opportunities to improve outcomes for patients. These assets include milvexian, which has demonstrated a differentiated profile as a next generation anti-thrombotic therapy, and two novel CELMoDs, iberdomide and CC-92480, with potential to be new foundational treatments in multiple myeloma.

• Powerful innovation engine driving a broad early-stage pipeline. With more than 50 assets in its early-stage pipeline and the opportunity for more than 20 proof of concept decisions over the next three years, Bristol Myers Squibb is advancing one of the most exciting pipelines in the industry, amplified by the Company’s strong external partnerships.

• Strong cash flow generation provides significant financial strength and flexibility. Bristol Myers Squibb plans to leverage its $45-$50 billion in expected free cash flow between 2022 and 2024 to execute a consistent, balanced capital allocation strategy, prioritizing business development and returning cash to shareholders through the Company’s dividend and share repurchase program. The Company remains committed to maintaining a strong investment grade rating and reducing debt.

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