J.P. Morgan Healthcare Conference Giovanni Caforio Chairman & Chief Executive Officer January 13, 2020 NOT FOR PRODUCT PROMOTIONAL USE 1
Forward Looking Statement This presentation contains statements about the Company’s future plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated as a result of various important factors, including those discussed in the Company’s most recent annual report on Form 10 -K and reports on Form 10-Q and Form 8-K. These documents are available from the SEC, the Bristol-Myers Squibb website or from Bristol-Myers Squibb Investor Relations. In addition, any forward-looking statements represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change. NOT FOR PRODUCT PROMOTIONAL USE 2
Our MISSION To discover, develop and deliver innovative medicines that help patients prevail over serious diseases Our VISION To be the world’s leading biopharma company that transforms patients’ lives through science Our STRATEGIC FOUNDATION A differentiated company that combines the Best of Biotech and Best of Pharma – focused on innovative medicines for patients with cancer and other serious diseases Leading Scientific Collaborating at Center Leveraging Global Driven by the Innovation of the Biotech Ecosystem Scale and Agility Best People NOT FOR PRODUCT PROMOTIONAL USE 3
One Year Ago: Combination with Compelling Opportunities DEEP AND BROAD LEADING ROBUST EARLY-STAGE LATE-STAGE PIPELINE FRANCHISES PIPELINE 6 (PHASE I / II ASSETS) 10 # 1 ONCOLOGY: 21 NEAR-TERM IO / SOLID TUMORS PHASE III 9 POTENTIAL NEW & HEMATOLOGY ASSETS PRODUCT LAUNCHES ONCOLOGY: Top 5 Led by Opdivo and CARDIOVASCULAR/ IO / Solid Tumors Yervoy as well as IMMUNOLOGY & SIGNIFICANT LIFE CYCLE FIBROSIS Revlimid and Pomalyst 10 INFLAMMATION MANAGEMENT OPPORTUNITIES Led by Orencia and Otezla ONCOLOGY: # 1 10 Hematology Underpinned by cutting edge CARDIOVASCULAR IMMUNOLOGY & technologies and discovery platforms Led by Eliquis INFLAMMATION CHEMISTRY BIOLOGICS CELL THERAPY With access to additional modality platforms through strong external partnerships P A T I E N T - C E N T R I C I N N O V A T I O N NOT FOR PRODUCT PROMOTIONAL USE 4
Strategic Rationale Strongly Supported by 2019 Performance Strong business performance across in-line portfolio Progress on Revlimid IP Positive clinical and regulatory achievements • Two recent approvals: Inrebic, Reblozyl beta-thal • Three FDA submissions: ozanimod, Reblozyl MDS, liso-cel • Two positive 1L lung trials: Checkmate 227 and Checkmate 9LA • CC-486 met primary endpoint of OS, enabling additional near-term launch opportunity Execution of ASR and recent dividend increase Successful divestiture of Otezla Integration activities and synergies on track Company well positioned for near-term and long-term NOT FOR PRODUCT PROMOTIONAL USE 5
Well Positioned for the Near-Term and Long-Term Pipeline & Business Development LCM Opportunities New Launches Strong Business Execution NOT FOR PRODUCT PROMOTIONAL USE 6
Important Progress on Integration Key leadership in place at close Site Footprint • Top 3 layers of management, • Major sites announced Synergies >700 leaders and in place at close • Includes key biopharma/ • Activities on track research hubs to drive $2.5B run-rate synergies by 2022 NOT FOR PRODUCT PROMOTIONAL USE 7
Strong Business Momentum in Key Franchises $8.1 B 13% $0.9 B 16% $5.9B 25% $2.2B 10% $5.1 B 10% $1.6 B 7% $1.8 B 25% $1.1 B 17% NOT FOR PRODUCT PROMOTIONAL USE $ Net Sales YTD Q3’19, with % variances vs. YTD Q3’18 8
Leading Brand in Expanding Market 35 30 25 AFib and OAC Total Volume 20 VTE Volumes NOAC Volume 15 (in Millions) 10 5 0 2013 2014 2015 2016 2017 2018 2019 Est.* TRx Share - All Physicians NBRx Share - All Physicians 100% 100% 20% 29% 28% 38% 80% 80% 17% 60% 60% 28% 40% 40% 79% 58% 54% 44% 20% 20% 1% 4% 0% 0% 2013 2014 2015 2016 2017 2018 Q3 2019 2013 2014 2015 2016 2017 2018 Q3 2019 NOT FOR PRODUCT PROMOTIONAL USE 9 *2019 annualized. Reflects Eliquis US
Important Franchise with Growth Opportunities Ahead Breadth of Approvals Strong commercial Important growth execution opportunity • 19 indications in the US • Strong shares across key • 1L Lung • 11 tumor types indications • Metastatic LCM program • Early stage / adjuvant pipeline NOT FOR PRODUCT PROMOTIONAL USE 10
Opportunity for Sustainable Leadership Position in Multiple Myeloma Commercial execution delivering Encouraging IP progress for Revlimid strong in-line performance in 2019 T-cell Other ide-cel CELMoDs Engager BCMA Pipeline Opportunities Coming to Fruition NOT FOR PRODUCT PROMOTIONAL USE 11
Broadening Portfolio with 8 Near Term Launch Opportunities Important Dual-IO opportunity in 1L lung Multiple Hematology launch CC-486 opportunities with the potential to be first-in-class and/or best- liso-cel ide-cel in-class Expanding Immunology portfolio with ozanimod and ozanimod TYK-2 TYK-2 NOT FOR PRODUCT PROMOTIONAL USE 12
Important Launch Opportunity in 1L Lung • Two Phase 3 trials demonstrating Overall Survival with Dual-IO: – CM-227: Deep and durable responses, flattening of the OS curve – CM-9LA: Potential to stabilize rapidly progressing disease with 2 cycles of chemo • Differentiated survival benefit recognized by physicians • Broad experience base with Dual-IO therapy among US physicians treating lung cancer • Strong commercial capability to maximize market opportunity NOT FOR PRODUCT PROMOTIONAL USE 13
Near-term Hematology Launches • First-in-class EMA, with important near-term opportunity in ESA refractory/ ineligible RS+ MDS and the potential to expand to ESA naïve MDS and other anemias liso-cel • Potential best-in-class CD19 CAR T for B-cell malignancies CC-486 • OS benefit in 1L AML maintenance, with convenience of oral administration • Potential first-in-class BCMA CAR T with deep and durable responses in a ide-cel highly refractory MM population NOT FOR PRODUCT PROMOTIONAL USE 14
Immunology Launch & Late-Stage Opportunities ozanimod TYK-2 Selective S1P with potential to be Potential Best-in-Class Oral Best-in-Class in relapsing MS • Potential for biologic-like efficacy with convenient administration • Convenient once-daily oral dosing • Safety potentially differentiated from • PDUFA March 2020 JAKs: Selective MOA and molecule Potential to be First-in-Class agent in • Psoriasis: Initial Ph3 results later Inflammatory Bowel Disease this year • Ph3 data in UC expected later • LCM program underway: this year PsA, Lupus, IBD NOT FOR PRODUCT PROMOTIONAL USE 15
Significant LCM Opportunities in 2020 Hematology Immunology Asset Disease Trial Timing* Asset Disease Trial Timing* Reblozyl ozanimod 2L RS+ MDS MEDALIST PDUFA Apr 4 UC TRUE NORTH Mid-Yr Psoriatic IM011-084 2H TYK-2 (Ph2/POC) Arthritis Opdivo/Yervoy Metastatic Setting Opdivo/Yervoy Early Stage Setting Asset Tumor Trial Timing* Asset Tumor Trial Timing* Opdivo + Opdivo Melanoma CM-915 2H RCC CM-9ER 1H Yervoy + Cabo Opdivo + Opdivo MIBC CM-274 2H Esophageal CM-648 2H Yervoy Opdivo + NSCLC 2H Relatlimab CM-816 Melanoma CA224-047 2H Chemo (Neo-Adj) (pCR) + Opdivo * Represents expected timing NOT FOR PRODUCT PROMOTIONAL USE 16
Opportunities 2021+ Immunology Asset Disease Trial Hematology Ozanimod Crohn’s Disease YELLOWSTONE Asset Disease Trial Ulcerative Colitis LATTICE-UC (Ph2) 1L ESA-naïve MDS COMMANDS TYK-2 Reblozyl SLE PAISLEY (Ph2) INDEPENDENCE MF-associated anemia 2L TNE DLBCL PILOT liso-cel 2L TE DLBCL TRANSFORM Cardiovascular (JCAR017) 3L+ CLL TRANSCEND-CLL-004 Asset Disease Trial KarMMa-2 2L MM ide-cel Stroke Prevention (Ph2) AXIOMATIC-SSP (bb2121) 3L+ MM KarMMa-3 FactorXIa VTE Prevention (Ph2) AXIOMATIC-TKR Opdivo/Yervoy Metastatic Setting Opdivo/Yervoy Early Stage Setting Tumor Trial Tumor Trial Tumor Trial Tumor Trial NSCLC (Adj) ANVIL NSCLC (Neo-Adj) CM-816 GBM CM-548 Head & Neck CM-651 Esophageal CM-577 Stage 3 NSCLC CM-73L Melanoma, Opdivo + (Unresectable) Bladder CM-901 Renal CM-914 Renal, Bladder NKTR-214* NMIBC CM-9UT NSCLC (Peri-Adj) CM-77T Gastric CM-649 HCC CM-9DX MIBC (Peri-Adj) CA017-078 HCC CM-9DW Adjuvant Mel Mesothelioma CM-743 Breast (ER+, HER2-) CM-7FL Prostate CM-7DX CM-76K (stage 2B/C) NOT FOR PRODUCT PROMOTIONAL USE 17 * Full program with NKTR-214 includes additional studies in Adjuvant Melanoma, Muscle Invasive Bladder cancer (MIBC), and NSCLC
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