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CLAIM #11821 · Bristol-Myers Squibb Company (BMY) · 2023Q3 earnings call · Oct 26, 2023 · due Mar 31, 2024

We believe the majority of CVS patients will be coming out of the hub by Q4 and start to see some benefit towards the tail end of Q4 and into Q1.

Adam Lenkowsky · Chief Commercialization Officer

PENDING
graded after results covering Mar 31, 2024 are reported

In context

question, please? Operator: Certainly, and that comes from Andrew Baum with Citi. Andrew Baum: Thank you. A question for Adam - many of your predecessors have been scarred trying to get off the bridge onto reimbursed plans. Are you still confident that you’re going to be able to, by the end of this year, get 60% of your CVS insured patients off the bridge onto reimbursed status? Adam Lenkowsky: Yes Andrew, thanks for the question. Conversion is going as we expected. We are focused on pulling through the early access win for Sotyktu at CVS and shifting those patients to commercial product from bridge. As I said last time on the call, it takes about two to three months for patients to move from bridge to commercial, and we have started to see that conversion happening towards the end of Q3. We believe the majority of CVS patients will be coming out of the hub by Q4 and start to see some benefit towards the tail end of Q4 and into Q1. We’re also seeing new patients on CVS move very quickly into commercial product, so that’s also helping to accelerate performance. I talked earlier that coupled with broader formulary access in January of 2024, we’re confident that will be a strong accelerator of growth for Sotyktu in 2024 and beyond. Tim Power: Thank you Adam. Keith, could we go to our next question, please? Operator: Yes, and once again, please press star and then one if you would like to ask a question. The next question comes from Tim Anderson with Wolfe Research Tim Anderson: Thank you. You gave product-specific peak sales targets out to 2030 - I think you did that for almost 10 products. Are any of those trending ahead of what those prior targets were - we’ve heard several things it sounds like where it might be tr

Verify independently

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