Bristol-Myers Squibb Company
CEO : Dr. Giovanni Caforio M.D.
Quarterly earnings growth(YoY,%)
| Period | Revenue | Operating Income | EPS | Release Date |
|---|---|---|---|---|
| 2022 Q4 | -4.8% YoY | -24.7% | -12.9% | 2023-02-02 |
Christopher Boerner says,
Positive performance of Sotyktu
- Reception for the product has been very good.
- Feedback from customers is positive.
- Over 2,000 scripts sold.
- Market share for oral market in moderate-to-severe psoriasis is roughly 35% for new products and roughly 12% overall market-share.
Potential for Accelerating Access Position
- Base case continues to be 2024 for moving into a better access position.
- Good discussions with payers to possibly accelerate access position.
- Driving demand as quickly as possible for this product.
Impact of Biosimilars
- 2023 is going to be a transition year for biosimilars.
- Strategies of companies and PBMs will continue to evolve.
- Approach to gaining access for Sotyktu doesn’t evolve based on biosimilars.
Samit Hirawat says,
Introduction
- TYK2 inhibitor has specific downstream effects on IL-12, IL-23, and interferon.
- No JAK inhibitor approved for psoriasis treatment.
Sotyktu’s Superiority
- Sotyktu has shown superiority over the prior standard of care in two trials in the oral setting.
- Phase II data for psoriatic arthritis and SLE are positive.
Phase III Clinical Trials
- Phase III clinical trials are ongoing for all indications.
Prescription Confidence
- The confidence in Sotyktu’s data is making it very promising for physicians to prescribe it.
Pfizer’s JAK inhibitor
- Cannot speak to what Pfizer will do when their data reads out.
- Questioning the use of JAK inhibitors in psoriasis when efficacious safe therapies are available for patients.
Q & A sessions,
Camzyos Patient and Physician Dynamics
- Over 1,800 patients have been prescribed Camzyos.
- 50% of scripts were converted into commercial drugs in Q4 2022.
- Accelerated acceleration in the use of Camzyos in targeted accounts.
Sotyktu Market Access
- No impact from the Otezla broader market going into the mild category.
- Strong momentum with Sotyktu in moderate to severe patients.
- Physicians are willing to use Sotyktu in moderate to severe patients.
Gross to Nets for Eliquis
- No gross to net favorability in the future due to the heavily managed and competitive market space.
- Continued variability across quarters and late-year seasonality with the product.
Free Drug Programs and IRAs
- Transition from free drugs to favorable access position is important.
- Bridge programs typical in this market and will remain open for Sotyktu.
- Monitoring patients’ status of formulary positioning in real-time with the hub.
Manufacturing Capacity for Cell Therapy Products
- Expansion of capacity for both Breyanzi and Abecma in Q4 2022.
- Manufacturing success rates, vector supply, and drug product are the threefold strategy going forward.
- Manufacturing will continue to be an area of focus with good strategies in place.
LPA1 and Additional Fibrosis Programs
- Phase II data for LPA1 program to launch later this year with strong Phase II data so far.
- Looking at LPA1 program for IPF and progressive or pulmonary fibrosis.
- Phase I trial ongoing for the next TYK2 inhibitor.
TIGIT Program
- Trial being conducted in patients with non-small cell lung cancer and looking at a combination with nivolumab and ipilimumab.
- Terminated the trial due to observed toxicity when combined with dual I-O therapy for this particular TGT inhibitor.
No bad stock 