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bristol myerd squibb Sanford C. Bernstein & Co. Strategic Decisions Conference
 

bristol myerd squibb Sanford C. Bernstein & Co. Strategic Decisions Conference

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    bristol myerd squibb Sanford C. Bernstein & Co. Strategic Decisions Conference bristol myerd squibb Sanford C. Bernstein & Co. Strategic Decisions Conference Presentation Transcript

    • Jim Cornelius Chairman and CEO Sanford C. Bernstein & Co. Strategic Decisions Conference May 30, 2008 This presentation is intended solely for an investment community/industry audience – not for promotional use community/industry
    • Forward-Looking Statements and Non-GAAP Financial Information During this meeting we will discuss projected financial and other quot;forward-lookingquot; information. Actual results could differ materially from those projected in forward- looking statements due to a number of factors disucssed in our Annual Report on Form 10-K and in our reports on Form 10-Q and 8-K. We will also discuss certain financial measures that were not prepared in accordance with generally accepted accounting principles (GAAP). Reconciliations of those non-GAAP financial measures to the most directly comparable GAAP financial measures that excludes specified items can be found our in our Form 8-K reports. These reports are available at our website at www.bms.com under quot;SEC Filings”. This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 2
    • 2007 Performance Exceeded Expectations Initial EPS Guidance for 2007 GAAP $1.12 – $1.22 Non-GAAP $1.20 – $1.30 Actual EPS for 2007 (continuing operations) GAAP $0.99 Non-GAAP $1.38 Actual EPS for 2007 (including Medical Imaging) GAAP $1.09 Non-GAAP $1.48 This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 3
    • 1st Quarter 2008 Performance & Strategy Growth phase of our strategic plan is underway 20% growth of net sales from continuing operations All key products growing – 26% sales increase in the U.S. – 14% internationally Non-GAAP EPS of $0.42 vs. $0.36 Q1 2007 Managing costs better; profitability improving Innovative plan for Mead Johnson This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 4
    • Q1 2008 Growth Over Q1 2007 (by Key Product) +13% +24% +39%* +30% +21% +17% +140% +112% *Q1 2007 Plavix sales impacted negatively by Apotex generic clopidogrel Continuing operations reported in U.S. dollars. International sales growth aided by weak dollar translations. This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 5
    • Q1 2008 Growth Over Q1 2007 (by Geography & Segment) U.S. Pharma +27%* Europe & Middle East Medicines +18% Latin America/Canada + 6% Asia Pacific +30% Japan Medicines ( 8%) Mead Johnson +16% ConvaTec +14% Total BMS +20% *Q1 2007 Plavix sales impacted negatively by Apotex generic clopidogrel Continuing operations reported in U.S. dollars. International sales growth aided by weak dollar translations. This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 6
    • BioPharma Strategy Helping Us Break Out of the Pharma Industry Cliff • Patent expirations starting in 2011 • Pipelines less productive • Regulatory, political environment Pharma • Intellectual property under assault Industry profitability Competitive advantage in a ma Phar less attractive B io gy trate BMS strong industry S participation in a successful industry History Now Future This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 7
    • Best of Biotech Best of Pharma Next-Generation BioPharma Leader Helping more patients prevail in their fight against serious disease Innovate Integrate Improve Agile, Entrepreneurial & Accountable Culture This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 8
    • Our Productivity Approach Management Council Productivity Transformation Team Supply Chain R&D G&A Commercial Operations $400 MM $200 MM $550 MM $350 MM $1.5 Billion Cost Savings + Cost Avoidance This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 9
    • Supply Chain Redesigned to Support BioPharma Model Strategic Filters Current 2011 27 Plants >50% Reduction Future Geographic Product Portfolio Footprint Rationalization Network segmented and specialized In-house Biologics capability Aggressive outsourcing of mature products Generating $400 Million in Productivity This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 10
    • Monetizing and Redeploying our Non-Pharma Assets Sold to Avista Partners in Dec. for $525M (gross purchase price) Sold to Nordic & Avista in May for approximately $4.1B Plan IPO of 10 to 20% Selected acquisition / licensing String of Pearls of key technologies, people, capabilities This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 11
    • Three Year Growth Plan 2008-2010 2008 Confirmed non-GAAP EPS guidance of $1.60-$1.70 ConvaTec recorded as discontinued operation for all of 2008 (when sold) 2008–2010 Sales growth in high to single digits $1.5 billion productivity transformation initiative Margin expansion and improved cash flow 15% EPS compound growth rate (non-GAAP) This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 12
    • Innovative New Product Portfolio in Development Saxagliptin Belatacept Potential new addition Potential novel biologic to the management of to replace cornerstone diabetes therapy in solid organ transplantation Ipilimumab Dapagliflozin Apixaban Potential new Potential new insulin- Potential improved immunotherapy independent medicine for anticoagulant compared to for the treatment helping overweight and current standard of care of cancer obese diabetes patients This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 13
    • Key 2008 Events ASCO (May 30–June 3) Erbitux FLEX data Sprycel phase II prostate data Ipilimumab data ADA (June 6–10) Saxagliptin phase III data Dapaglifozin phase IIb data EASD (Sept. 7–11) Saxagliptin phase III data ASH (Dec. 6–9) Apixiban phase III data This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 14
    • Strategic Focus on 2012–2013 Accelerate revenue growth Continued pipeline success Additional productivity opportunities Aggressively pursue business development This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 15
    • Best of Biotech Best of Pharma Next-Generation BioPharma Leader Helping more patients prevail in their fight against serious disease Innovate Integrate Improve Agile, Entrepreneurial & Accountable Culture This presentation is intended solely for an investment community/industry audience-not for promotional use community/industry audience- 16
    • Jim Cornelius Chairman and CEO Sanford C. Bernstein & Co. Strategic Decisions Conference May 30, 2008 This presentation is intended solely for an investment community/industry audience – not for promotional use community/industry