CLAIM #12135 · Bristol-Myers Squibb Company (BMY) · 2025Q1 earnings call · Apr 24, 2025 · due Dec 31, 2025
“And so as we've said, we expect to see strong uptake over the course of 2025 with a ramp in the back half of the year after we continue to increase the frequency of calls to our customers try to break those reflective habits.”
Adam Lenkowsky · Chief Commercialization Officer
In context
“Medicaid and Medicare access. We're now at virtually 100% access across both channels. We're making good progress with commercial payers. I mentioned earlier that because of this access, it's allowing us to move Cobenfi up earlier in treatment, which is critical. And most importantly, we are hearing very encouraging feedback from both patients and physicians around Cobenfi's efficacy and safety profile. Physicians noting efficacy and positive symptoms, negative symptoms and improvement in cognition and clarity of thought. We're also, I think a critical metric for us is growing number of new trials and we're seeing consistent growth week over week in new trialists since launch and we've got an opportunity to continue to expand and reach the 30,000 psychiatrists that are on our target list. And so as we've said, we expect to see strong uptake over the course of 2025 with a ramp in the back half of the year after we continue to increase the frequency of calls to our customers try to break those reflective habits. But know the work we need to do to maximize this launch and will make this a very big product for the company over time. Now as it relates to gross-to-net, as you saw in the slides, we delivered $27 million in net sales for the quarter and that was inclusive of $9 million in gross-to-net benefit. So underlying demand for Cobenfi is strong. And at launch, we made assumptions around payer mix and discount. So Q1 essentially was a true-up for favorable gross-to-net in Q4. So we've been very disciplined in discretionary gross-to-net spend. As you know, there are mandatory discounts in Medicaid. Now have very strong access. So we expect to see increases this year in gross-to-net for the full year. But again, we expect to see strong uptake over the course of the year with a ramp taking place in”
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SEC filings for BMY ↗ · Claim quote is verbatim from the 2025Q1 earnings call.