MAAT INDEX

CLAIM #11792 · Bristol-Myers Squibb Company (BMY) · 2023Q3 earnings call · Oct 26, 2023 · due Jan 31, 2024

This performance along with potential new launch opportunities in peri-adjuvant lung and first line bladder, as well as in recently approved adjuvant melanoma indication reinforce our confidence in the continued growth for Opdivo.

David Elkins · CFO

PENDING
graded after results covering Jan 31, 2024 are reported

In context

duct portfolio to deliver roughly $3.5 billion for the full year 2023. This is primarily due to the impacts of our cell therapy franchise, particularly Abecma. As Chris mentioned, we are laser focused on continuing to accelerate growth of our in-line and new product portfolio into the next year and beyond. Let’s discuss performance of our solid tumor products on Slide 15. Our flagship oncology product, Opdivo, continues to grow well with sales up 11% globally. In the U.S., Opdivo grew 9% primarily driven by demand. Sequentially, sales grew double digit driven by demand and a reversal of roughly $50 million of unfavorable buying patterns in the second quarter. Outside the U.S., third quarter revenues increased 15%, primarily driven by demand for indications such as lung and gastric cancer. This performance along with potential new launch opportunities in peri-adjuvant lung and first line bladder, as well as in recently approved adjuvant melanoma indication reinforce our confidence in the continued growth for Opdivo. As Chris mentioned earlier, we now have positive data for the sub-cu formulation. We believe this supports the potential for an important new option for patients and strengthens the franchise longevity into the next decade. With respect to our next-generation IOS at Opdualag, revenue nearly doubled as we build share in first line melanoma. In the U.S., we now see market share of roughly 25% with additional room to grow, particularly in the approximately 15% of patients that are still receiving PD1 monotherapy. Opdualag has become a new standard of care in patients with metastatic melanoma, where BMS’ total share is 65% in this important market. Let’s now turn to cardiovascular on Slide 16. Eliquis continued to grow with $2.7 billion in revenue in the quarter. In the U.S., sales grew 4% y

Verify independently

SEC filings for BMY · Claim quote is verbatim from the 2023Q3 earnings call.