Bristol-Myers Squibb Company (BMY) Jefferies London Healthcare Conference 2024 summary

Business performance and growth portfolio

• Growth portfolio grew 20% in constant currency, now nearly 50% of total business.

• Multiple brands, including CAMZYOS, BREYANZI, and REBLOZYL, doubled sales versus last year.

• COBENFY launch off to a strong start, with positive field feedback and multi-billion-dollar potential.

• Phase 3 data for COBENFY in new indications expected annually through the decade.

• Focus on execution and delivering on pipeline and growth targets.

Pipeline and clinical development

• Subcutaneous OPDIVO PDUFA date in December, aiming to improve patient experience and healthcare efficiency.

• Alzheimer's disease and agitation phase 3 readouts expected in 2026 and 2027.

• Milvexian phase 3 studies in ACS, stroke prevention, and AFib due 2026–2027.

• Multiple phase 3 programs to bolster growth portfolio in next 18–24 months.

• CD19 NEX-T program shows promising early results in lupus, with plans for rapid expansion.

Business development and financial strategy

• Nearly $30 billion in business development over recent years, focusing on core therapeutic areas.

• Recent acquisitions (Karuna, RayzeBio, Mirati) integrated to drive long-term growth.

• $1.5 billion savings initiative launched, with full realization expected next year.

• Commitment to pay down $10 billion in debt by 2026 to strengthen balance sheet.

• Near-term focus on smaller bolt-on deals and collaborations, with larger deals possible post-integration.