Bristol-Myers Squibb Co at TD Cowen Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Steve Scala - TD Cowen - Analyst : Let's start out maybe with, I think you were going to start out with kind of some brief opening remarks and maybe include in that some of the pushes and pulls of the Medicare Part D redesign as part of the answer.

Question: Steve Scala - TD Cowen - Analyst : And one more question on this topic, and that is, talk about the phasing in 2025. So how does this redesign impact the sequence of the year?

Question: Steve Scala - TD Cowen - Analyst : Just so I can kind of figure this out in my own head, so let's say ELIQUIS US does for the sake of argument, $10 billion this year, is a starting point $2.5 billion per quarter? Is that the way to look at it or how would you alter those numbers?

Question: Steve Scala - TD Cowen - Analyst : By the way, if there's questions anywhere along the line, please just raise your hand and we'll pose your question. So let's go to COBENFY. One of the most exciting rollouts in the industry in 2025. Do you think COBENFY can reach blockbuster status within two to three years post launch?

Question: Steve Scala - TD Cowen - Analyst : You've mentioned the better than expected access or accesses ahead of expectations. But what has driven that? Is it the inherent profile of the drug and payers realize they have to cover it, or is it that Bristol-Myers Squibb is giving terms that just make it attractive or some combination?

Question: Steve Scala - TD Cowen - Analyst : What is the biggest hurdle for COBENFY in the marketplace? Is it step through of generic antipsychotics, or is it competition from branded products, or is it something else?

Question: Steve Scala - TD Cowen - Analyst : Questions from the audience? Maybe we could talk about CAMZYOS. So we have this April PDUFA date to loosen the REMS program. What should be our expectation for the trajectory of the product once that is crossed and successfully the labels changed? So what will change relative to the product usage?

Question: Steve Scala - TD Cowen - Analyst : So we should definitely see some sort of an inflection once the REMS is loosened.

Question: Steve Scala - TD Cowen - Analyst : Let's stick with CAMZYOS. One more question. And that is should it succeed in the non-obstructive HCM area? How would you think about the market opportunity? How does it change? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Steve Scala - TD Cowen - Analyst : Questions on CAMZYOS before we go on to another topic? You've been asked this question I think several times in the last three or four weeks, and that is Opdivo Sub-Q. We know it's early and you've said it's early. But is it no longer that early that you could give us some characterization of the types of patients, which is what tumors are being prescribed for this and so forth?

Question: Steve Scala - TD Cowen - Analyst :

Question: Steve Scala - TD Cowen - Analyst : Merck thinks they'll get roughly the same conversion in 12 to 18 months. Either they're too optimistic or you're too conservative. Can you talk about why your conversion might take much longer than their?

Question: Steve Scala - TD Cowen - Analyst : Sticking with Opdivo , how are launch preparations for Opdivo plus Yervoy in first line HCC going?

Question: Steve Scala - TD Cowen - Analyst : Moving to SOTYKTU. Does it still have blockbuster potential in your eyes? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Steve Scala - TD Cowen - Analyst : Questions from the audience? Maybe zooming out a little bit. Has there been any evidence of bleed through of IRA pricing to the commercial setting as you've gone through the contracting cycle?

Question: Steve Scala - TD Cowen - Analyst : It is a little bit impressive that the male vaccine studies are expected to end on time based on what is now known, at least, whereas other major cardiovascular trials get pushed out and they seem to be getting pushed out on an accelerating basis rate, but for some reason the Bristol studies are right on time. So what do you attribute that?

Question: Steve Scala - TD Cowen - Analyst : I guess I should have been able to conclude that on my own, but I didn't didn't. So when Bay left this field, did your recruit And go up a lot. It's so, okay, so there's a lot more events being accumulated more quickly. It.

Question: Steve Scala - TD Cowen - Analyst : Okay, I know Bristol tends to be conservative and doesn't want to get over its skis, but that might also argue that the study could end early, which I know the company won't speak to. But okay, let's talk about your radio ligand therapy. What targets tumors and molecules are you exploring exploring with radio ligand therapy?

Question: Steve Scala - TD Cowen - Analyst : So we're down to mere seconds. One more question, and that is, what product in Bristol's early development that you don't really talk about with investors are you most excited about?

Question: Steve Scala - TD Cowen - Analyst : Of exciting stuff going on at Bristol Myers Squib. So thank you for the rundown. Thank you. DISCLAIMER Refinitiv reserves the right to make changes to documents, content, or other information on this web site without obligation to notify any person of such changes. In the conference calls upon which Event Transcripts are based, companies may make projections or other forward-looking statements regarding a variety of items. Such forward-looking statements are based upon current expectations and involve risks and uncertainties. Actual results may differ materially from those stated in any forward-looking statement based on a number of important factors and risks, which are more specifically identified in the companies' most recent SEC filings. Although the companies may indicate and believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. THE INFORMATION CONTAINED IN EVENT TRANSCRIPTS IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE CONFERENCE CALLS. IN NO WAY DOES REFINITIV OR THE APPLICABLE COMPANY ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY EVENT TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S CONFERENCE CALL ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.