Bristol Myers Squibb CEO: Richest product pipeline we've had in the last decade

Summary

Chris Boerner, CEO of Bristol Myers Squibb, discusses the company's latest earnings and pipeline on Power Lunch. He highlights a strong commercial portfolio, a deep late-stage pipeline with potentially six new products and up to 11 Phase 3 readouts this year, and financial capacity for investment and shareholder returns. He also addresses drug pricing, PBM inefficiencies, China's biopharma ambitions, and AI's role in drug development.

• Bristol Myers Squibb reported strong earnings with early portfolio assets growing.
• Management sees the richest pipeline in a decade, including up to 11 Phase 3 readouts this year.
• Milvexian is positioned as a potential Eliquis replacement with two data readouts this year.
• Additional pipeline catalysts include schizophrenia data and oral multiple myeloma medicines.
• Boerner says BMS is financially strong enough to invest and return capital.
• He calls for simplifying U.S. healthcare and criticizes PBM-related inefficiency.
• China is investing heavily in biopharma, posing a long-term competitive threat.
• AI is expected to transform biopharma discovery, development, and commercialization.