行业报告BMS2023年第一季度报告1684136108_市场营销策划_重点报告2023050.docx

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1、曲Bristo1MyersSquibbBristo1MyersSquibbReportsFirstQuarterFinancia1Resu1tsfor2023 ReportsFirstQuarterRevenuesof$11.3Bi11ion PostsFirstQuarterGAAPEarningsPerShareof$1.07andNon-GAAPEPSof$2.05;Inc1udesNetImpactof($0.01)PerShareforGAAPandNon-GAAPEPSDuetoAcquiredIPRDChargesand1icensingIncome De1iversStrong

2、RevenueGrowthof8%fromIn-1ineProductsandNewProductPortfo1io;or10%WhenAdjustedforForeignExchange FurtherAdvancesPortfo1ioRenewa1Strategy,AchievingImportantMi1estonesAcrossTherapeuticAreas AdjustsGAAP2023EPSGuidance;AffirmsNon-GAAPFinancia1Guidancefor2023(NEWYORK,Apri127,2023)-BriStO1MYerSSQUibb(NYSE:B

3、MY)todayreportsresu1tsforthefirstquarterof2023,whichref1ectrobustin-1ineandnewproductportfo1iogrowth,strongcommercia1executionandcontinuedadvancementoftheproductpipe1ine.uOurstrongexecutionresu1tedindoub1e-digitrevenuegrowthforourin-1ineproductsandnewproductportfo1io,nsaidGiOVantiCaforio,MD,boardcha

4、irandchiefexecutiveofficer,Bristo1MyersSquibb.uWecontinuetosuccessfu11yexecuteagainstourkeystrategicprioritiesandmeaningfu11yadvanceourportfo1iorenewa1strategy,achievingimportantregu1atoryandc1inica1mi1estonesthatwi11benefitpatientswithseriousunmetneeds.Weremainfocusedoncommercia1execution,progressi

5、ngourpipe1ineand1everagingourstrongfinancia1foundationtoinvestinthenextwaveofinnovationandde1iverva1uetoa11ofourstakeho1ders.”FirstQuarter$amountsinmi11ions,exceptpershareamounts20232023ChangeChangeExc1FXSeeUseofNon-GAAPFinancia1Information.Tota1Revenues511,337511,648(3)%Earningspershare-GAAP*1.070.

6、5981%N/AEarningspershare-Non-GAAP*2.051.965%N/A“GAAPandnonGAAPearningspershareinc1udethenetimpactofAcquiredIPRDchargesand1icensingincomeof($0.01)in2023comparedto($0.10)persharein2023.F1RSTQUARTERF1NANCA1RESU1TSAUcomparisonsaremadeversusthesameperiodin2023un1essotherwisestated. Bristo1MyersSquibbpost

7、edfirstquarterrevenuesof$11.3bi11ion,adecreaseof3%,duetoRev1imidgenericerosionandforeignexchangeimpacts,partia11yoffsetbyin-1ineproducts(primari1yOpdivoandE1iquis)andournewproductportfo1io(primari1yOpdua1ag,AbecmaandReb1ozy1).Whenadjustedforforeignexchange,revenuesdecreased1%.Ourrevenuesforin-1inepr

8、oductsandnewproductportfo1ioincreased8%to$9.3bi11ion,or10%whenadjustedforforeignexchangeimpacts. U.S.revenuesincreased4%to$8.0bi11ioninthequarterprimari1yduetoE1iquisfOpdivoandournewproductportfo1io,partia11yoffsetbyRev1imidgenericerosion.Internationa1revenuesdecreased16%to$3.3bi11ioninthequarter.Wh

9、enadjustedforforeignexchangeimpacts,internationa1revenuesdecreased11%,primari1yduetoRev1imidandE1iquisgenericerosion,partia11yoffsetbyOpdivoandournewproductportfo1io. OnaGAAPbasis,grossmargindecreasedfrom78.8%to77.4%andonanon-GAAPbasis,decreasedfrom79.2%to77.8%primari1yduetoproductmix,partia11yoffse

10、tbyforeignexchangeimpactsandre1atedhedgingsett1ements. OnaGAAPandnon-GAAPbasis,marketing,se11ingandadministrativeexpensesdecreased4%to$1.8bi11ioninthequarter,primari1yduetodifferencesoftimingofspendcomparedtotheprioryearandforeignexchangeimpacts,partia11yoffsetbyhighercoststosupportnewproduct1aunche

11、s. OnaGAAPandnon-GAAPbasis,researchanddeve1opmentexpensesincreased3%inthequarter,primari1yduetohighercoststosupporttheovera11portfo1io. OnaGAAPandnon-GAAPbasis,AcquiredIPRDdecreasedto$75mi11ioninthecurrentquarterfrom$333mi11ioninthesameperiodayearago.OnaGAAPandnon-GAAPbasis,1icensingincomedecreasedt

12、o$43mi11ioninthecurrentquarterfrom$52mi11ioninthesameperiodayearago. OnaGAAPbasis,amortizationofacquiredintangib1eassetsdecreased7%to$2.3bi11ioninthequarter,primari1yduetotheAbraxanemarketedproductrightbeingfu11yamortizedinthefourthquarterof2023. OnaGAAPbasis,effectivetaxratechangedfrom23.9%to18.2%i

13、nthequarterprimari1yduetojurisdictiona1earningsmixresu1tingfromspecifiedItemsandthere1easeofincometaxreservesinthefirstquarterof2023,partia11yoffsetbychangestoourPuertoRicotaxdecree.OnanonGAAPbasis,effectivetaxratechangedfrom15.9%to15.5%,duetotheaforementionedtaxreservere1easesandchangestoourPuertoR

14、icotaxdecree. Thecompanyreportednetearningsattributab1etoBristo1MyersSquibbof$2.3bi11ion,orGAAPEPSof$1.07,inthefirstquarter,comparedto$1.3bi11ion,or$0.59pershare,forthesameperiodayearago.Inadditiontotheitemsdiscussedabove,thehigherGAAPEPSinthefirstquarterof2023wasdueto1owerequityinvestments1osses,hi

15、gher1itigationandothersett1ementsincomeinthefirstquarterof2023andadebtredemptionchargeinthesameperiodayearago. Thecompanyreportednon-GAAPnetearningsattributab1etoBristo1MyersSquibbof$4.3bi11ion,ornon-GAAPEPSof$2.05,inthefirstquarter,comparedtonon-GAAPnetearningsof$4.2bi11ion,ornon-GAAPEPSof$1.96pers

16、hare,forthesameperiodayearago. Inadditiontotheitemsdiscussedabove,theearningspershareresu1tsinthefirstquarterof2023inc1udetheimpactof1owerweighted-averagecommonsharesoutstanding.F1RSTQUARTERPRODUCTREVENUEH1GHUGHTS($amountsinmi11ions)QuarterEndedMarch31,2023%ChangefromQuarterEndedMarch31,2023%ChangefromQuarterEndedMarch31,2023(Exc1.FX)*U.S.Inf1WWu,U.S.Inf1V