Bristol-Myers Squibb -- 2016 ASCO Investor Presentation · ASCO 2016 NOT FOR PRODUCT PROMOTIONAL...

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1 NOT FOR PRODUCT PROMOTIONAL USE ASCO 2016 ASCO Investor Meeting June 4, 2016 *American Society of Clinical Oncology, June 3 - 7, 2016 2016 *

Transcript of Bristol-Myers Squibb -- 2016 ASCO Investor Presentation · ASCO 2016 NOT FOR PRODUCT PROMOTIONAL...

1NOT FOR PRODUCT PROMOTIONAL USEASCO 2016

ASCOInvestor MeetingJune 4, 2016

*American Society of Clinical Oncology, June 3 - 7, 2016

2016*

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During this meeting, we will make statements about the Company’sfuture plans and prospects that constitute forward-looking statementsfor 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 today 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.

Forward-Looking Information

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• Introduction

• Immuno-Oncology Strategy

• Key Data at ASCO

• Next Wave of Innovation

• Conclude / Q&A

Today’s Agenda

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BMS Immuno-Oncology:Transforming Cancer Care

Giovanni CaforioChief Executive Officer

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Our Strategic Foundation

People helping patients in their fight against serious disease

I N N O VAT E I M P R O V EI N T E G R AT E

Diversified Specialty BioPharma

Best of BIOTECH

Best of PHARMA

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BMS Immuno-Oncology:Transforming Cancer Care

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Immuno-Oncology Strategic Priorities

Maintain Leadership in Lung Cancer

Enhance Survival with Opdivo+Yervoy Regimen

Expand I-O Use into Earlier Settings

Accelerate Next Wave Therapeutics

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Immuno-Oncology Strategy

Francis CussChief Scientific Officer

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14Tumors with

ongoing and planned

registrational trials

Leading In Immuno-OncologyPositive registrationaltrials

513

Phase III trials stopped early due to survival benefit

9New EnglandJournal ofMedicinePublications

100 GlobalApprovalsfor Opdivo FDA

Approvals in I-O

Note: All milestones since 2014

6Breakthrough Therapy Designations

YearsApprovals

0

2

4

6

8

10

12

Opdivo Avastin Taxotere

9

YearsApprovals

8>

9<2

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Immuno-Oncology Strategic Priorities

Maintain Leadership in Lung Cancer

Enhance Survival with Opdivo+Yervoy Regimen

Expand I-O Use into Earlier Settings

Accelerate Next Wave Therapeutics

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Complementary MoAs that work together to maximize anti-tumor immunologic responses

Scientific Rationale for Combining Opdivo and Yervoy

PD-L1 PD-L2

OPDIVO blocks PD-1 to:1) Enable T-cells to

recognize and attack tumor cells

2) Prevent activation-induced T-cell death

YERVOY blocks CTLA-4 to:1) Help stimulate T-cell

activation and proliferation

2) Deplete T-reg cells and reverse immune-suppression

CTLA-4 Receptor

OPDIVO

PD-1 Receptor

YERVOY

Memory T cell

YERVOY

Some activated T cells become memory cells that can support subsequent immune responses by recognizing the tumor antigen

T cell

T-regcell

Tumor

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Broad Development of

*7 potentially registrational

+

Ongoing Trials *

StudyMelanoma -069, -067

StudyMelanoma -004, -218, -511, -401,-204

NSCLC -012, -227, -568

SCLC -032, -451

RCC -016, -214

GBM -143

CRC-MSI -142

Gastric -032

Head & Neck -651

HCC -040

Pancreatic, TNB, Bladder, Ovarian -032

Hematological -039

Virus Associated Tumors -358

StudyMelanoma -067NSCLC -012SCLC -032GBM -143CRC-MSI -142Gastric -032

Currently Approved

Opdivo + Yervoy Data at ASCO 2016

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Expand I-O Use into Earlier Settings

AdjuvantNeo Adjuvant Locally Advanced

Melanoma

NSCLC

RCC

Bladder

Gastric

Esophageal

Melanoma

RCC

NSCLC

Head & Neck

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Patients who do not respondto Opdivo +/- Yervoy

Patients who progress after treatment with Opdivo +/- Yervoy

Additional tumors, including where signals are not sufficient

Improve outcomes through combinations

Accelerate Next Wave Therapeutics

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ASCO 2016: Key Takeaways

• Unprecedented first line lung data with Opdivo and Yervoy in PD-L1 expressers

• Broadening the Potential Benefit of Opdivo + Yervoy

• Redefining the Potential for Long-Term Survival

• Promise of I-O in additional tumors

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Key Data at ASCO 2016

Fouad NamouniHead of Medical

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ASCO 2016 – Review of Select Key Data

NSCLC• CheckMate-017 / -057: Phase 3 Opdivo in 2nd line NSCLC

• CheckMate-012: Phase 1 Opdivo plus Yervoy combination in 1st line NSCLC

SCLC • CheckMate-032: Phase 1 Opdivo plus Yervoy combination or Opdivo as monotherapy in 2nd line SCLC

Bladder • CheckMate-032: Phase 1 Opdivo in 2nd line Urothelial (Bladder)

Colorectal • CheckMate-142: Phase 2 Opdivo plus Yervoy combination or Opdivo as monotherapy in 2nd line MSI-H mCRC

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Opdivo as Backbone

Translational Research Collaborations

and BD

Strategy Addresses Broad Lung Population

+ Yervoy+ Novel MOAs+ Chemo+ Targeted Therapies

APPR

OAC

HES

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Lung Cancer: Broad Registrational Program

Checkmate-017Opdivo monotherapy, Squamous Approved in

US, Europe, and Japan Checkmate-057

Opdivo monotherapy, Non-Squamous

Checkmate-026Opdivo Monotherapy, PD-L1+

Checkmate-331Opdivo monotherapy, 2L limited or extensive

diseaseCheckmate-451

Opdivo monotherapy and Opdivo+Yervoy followed by Opdivo maintenance, 1L extensive disease

Enrollment Complete

Currently Recruiting

Currently Recruiting

Currently Recruiting

Checkmate-227PD-L1+: Opdivo monotherapy and Opdivo+Yervoy

PD-L1-: Opdivo+Yervoy and Opdivo+chemo

Monotherapy Combination

2L+ NSCLC

1L NSCLC

SCLC

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Non-Small Cell Lung Cancer(NSCLC)

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CheckMate -017 and -057:Sustained Benefit at 2 Years

OS

(%)

Time (Months)

0

20

40

60

80

100

0 6 12 18 24 30 393 9 15 21 27 33 36

292290

194194

148111

11266

8145

186

233243

171150

12889

9753

4625

63

00

01

OpdivoDocetaxel

No. of patients at risk:

OpdivoDocetaxel

CheckMate 057 (NSQ NSCLC)CheckMate 017 (SQ NSCLC)

OS

(%)

Time (Months)

0

20

40

60

80

100

0 6 12 18 24 30 393 9 15 21 27 33 36

OpdivoDocetaxel

OpdivoDocetaxel

135137

8669

5733

3817

2911

146

113104

6946

5122

3414

199

74

00

11

No. of patients at risk:

1-y OS rate = 51%

2-y OS rate = 29%1-y OS rate = 39%

2-y OS rate = 16%

1-y OS rate = 42%

2-y OS rate = 23%1-y OS rate = 24%

2-y OS rate = 8%

NSCLC

Borghaei et al

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• Higher response rates, nearly double that of Opdivo monotherapy

– Enhanced efficacy with increasing levels of PD-L1 expression

• Deep and durable responses have the potential to improve long term survival

• Combination regimen remains well tolerated, with low discontinuation rates due to adverse events

CheckMate-012: Longer Term Data Increases Confidence in First Line NSCLC Strategy

NSCLCCM-012

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Opdivomonotherapy

Opdivo +

Erlotinib

Opdivo+

Yervoy

Opdivo+

PT-DC

Opdivo+

Bevacizumab

Stage IIIB/IV NSCLC; no prior chemotherapy for advanced disease

• Broadest data set with multiple regimens in first line NSCLC

• Only I-O/I-O combination data presented in first line setting

CheckMate-012: Evaluation of Multiple Regimens in First Line NSCLC

NSCLCCM-012

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Opdivo + Yervoy in First-line NSCLC:Baseline Patient Characteristics

Opd 3 Q2W + Yer 1 Q12W

(n = 38)

Opd 3 Q2W + Yer 1 Q6W(n = 39)

Opdivo Mono 3 Q2W

(n = 52)Median age, years (range) 68 (50–91) 62 (47–87) 67 (43-85)Male, % 45 62 50Non-squamous histology, % 82 85 75

Disease stage, %Stage IIIBStage IV

1189

397

694

Smoking status, %NeverFormer/current

595

2374

2179

EGFR mutation status, %MutantWildtypeUnknown

117416

106723

156025

PD-L1 quantifiable, N (%)≥1%, n/N (%)≥5%, n/N (%)≥10%, n/N (%)≥25%, n/N (%)≥50%, n/N (%)

31 (82)21/31 (68)16/31 (52)13/31 (42)10/31 (32)6/31 (19)

30 (77)23/30 (77)19/30 (63)15/30 (50)8/30 (27)7/30 (23)

46 (88)32/46 (70)26/46 (57)20/46 (42)18/46 (39)12/46 (26)

NSCLCCM-012

Hellmann et al

• EGFR and ALK positive patients not excluded from this study• Patients are included regardless of PD-L1 expression

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Opdivo + Yervoy: Enhanced Efficacy with Increasing Levels of PD-L1 Expression

43

18

5754

64

78

92

23

14

2831

4044

50

0

20

40

60

80

100

All <1% ≥1% ≥5% ≥10% ≥25% ≥50%

Opdivo 3 Q2W + Yervoy 1 Q6/12W (pooled)Opdivo 3 Q2W

OR

R (%

)

All <1% ≥1% ≥5% ≥10%n

PD-L1 expression77 52 17 14 44 32 35 26 28 20

≥25% ≥50%18 18 13 12

• Opdivo + Yervoy showed clinically meaningful response rates with the potential to improve long term survival.

NSCLCCM-012

Hellmann et al

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CheckMate-012 Efficacy by PD-L1 Expression

• Adding Yervoy to Opdivo increased ORR, median PFS, and 1-year OS in PD-L1 expressers.

Opdivo 3 Q2W+ Yervoy 1 Q12W

(n = 38)

Opdivo 3 Q2W+ Yervoy 1 Q6W

(n = 39)

ORR, %<1% PD-L1 ≥1% PD-L1≥50% PD-L1

3057

100

05786

Median PFS, mo<1% PD-L1 ≥1% PD-L1 ≥50% PD-L1

4.7 8.1

13.6

2.410.6

NR1-year OS rate, %

<1% PD-L1 ≥1% PD-L1 ≥50% PD-L1

NC90NC

NC83

100Median follow-up, mos 12.9 11.8

• Platinum Doublets, all arms• NR = Not Reached• NC = Not Calculated

Opdivo Mono 3 Q2W

(n = 52)

142850

6.63.58.4

796983

14.3

NSCLCCM-012

Hellmann et al

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Depth and Durability of Response

• 12/15 responders (80%) in the Q6W arm and 14/18 responders (78%) in the Q12W arm had a response by time of first scan (week 11)

• 12/15 responders (80%) in the Q6W arm and 12/18 responders (67%) in the Q12W had an ongoing response at time of database lock

Nivo 3 Q2W + Ipi 1 Q6W

PD = progressive disease; SD = stable diseaseIncludes all patients with baseline target lesion and ≥1 post-baseline assessment of target lesion (n = 33)

Time (Months)

Cha

nge

in T

arge

t Les

ion

Siz

e

From

Bas

elin

e (%

)

60

40

20

0

−20

−40

−60

−80

−1000 2 4 6 8 10 12 14 16 18

First responseResponseNo response (PD + SD)

NSCLCCM-012

Hellmann et al

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Odp 3 Q2W+ Yer 1 Q12W

(n = 38)

Opd 3 Q2W+ Yer 1 Q6W

(n = 39)Opd 3 Q2W

(n = 52)

Any grade

Grade 3–4

Any grade

Grade 3–4

Any grade

Grade 3–4

Treatment-related AEs, % 82 37 72 33 71 19

Treatment-related AEs leading to discontinuation, % 11 5 13 8 10 10

• No treatment-related deaths.

• Improved safety and tolerability observed with current Opdivo and Yervoy combination cohorts compared to those previously studied.

Summary of -012 SafetyNSCLCCM-012

Hellmann et al

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Chemo doublet

Chemo doublet

Co-primaryendpoints:PFS/OS

PD-L1Expressors

PD-L1Non-Expressors

Checkmate-227: Opdivo + Yervoy in First line NSCLC

Opdivo 3 Q2WYervoy 1 Q6W

Opdivo 240 mg Q2W

Sq: Opdivo + gemcitabine + carbo/cisNon-sq: Opdivo + pemetrexed + carbo/cis

Opdivo 3 Q2WYervoy 1 Q6W

1L NSCLC

NSCLC

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Small Cell Lung Cancer(SCLC)

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Small Cell Lung Cancer (SCLC)

70%

30%

Stage Distribution at Diagnosis1

Extensive StageDisease (ED-SCLC)

Limited StageDisease(LD-SCLC)

1–2%

10–13%

0%

2%

4%

6%

8%

10%

12%

14%

ED-SCLC LD-SCLC

5-Year Relative Survival2

1. Morabito A et al. Crit Rev Oncol Hematol. 2014;91(3):257-270.2. Lally BE et al. The Oncologist. 2007;12(9):1096-1104.

10 -13%

• High Unmet Need:

– Aggressive tumor with very poor outcomes

– No improvement beyond chemotherapy for last 20+ years

– Platinum-based therapy in first line is established with high response rate but fast relapse for most patients

• Development Approach in SCLC:

– Phase 3 study of Opdivo monotherapy in second line vs. standard of care (CM-331); primary endpoint OS

– Phase 3 study of Opdivo monotherapy or Opdivo/Yervoy combination therapy followed by Opdivo as maintenance post chemo in first line vs. placebo (CM-451); co-primary endpoints OS/PFS

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CheckMate-032: Study Design (SCLC)

Open-label, multicenter phase I/II study

Opdivo3 Q2W(n = 98)

Opdivo 1 + Yervoy 3

Q3W for 4 cycles (n = 61)

Opdivo 3 + Yervoy 1

Q3W for 4 cycles (n = 54)

Opdivo 3 Q2W

Patients with progressive disease after ≥ 1 prior line of therapy including first-line platinum-based regimen

SCLCCM-032

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Opdivo 3 (n = 98)

Opdivo 1 + Yervoy 3(n = 61)

Opdivo 3 +Yervoy 1(n = 54)

Objective response rate, % OverallPlatinum-sensitive

Platinum-resistant

10 11

10

2328

17

19 19

10

Best overall response, %Complete responsePartial responseStable diseaseProgressive diseaseUnable to determineNot evaluable (no tumor assessment follow-up)

0102253122

2212138135

0191754110

Opdivo + Yervoy:Higher Response Rates

Antonia et al

SCLCCM-032

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Patients off treatment % change truncated to 100%First occurrence of new lesionConfirmed Partial Response or Complete Response

SCLCCM-032

Opdivo 3 + Yervoy 1Opdivo 1 + Yervoy 3 Opdivo 3

Per

cent

age

Cha

nge

From

Bas

elin

e (%

)

Time (Weeks)908478726660544842363024181260

-100

-75

-50

-25

0

25

50

75

100

Time (Weeks)908478726660544842363024181260

Time (Weeks)908478726660544842363024181260

Depth and Durability of Responses

Antonia et al

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• 69% were evaluable for PD-L1 expression at baseline– 16% had ≥1% tumor PD-L1 expression

Responses Observed Regardless of PD-L1 Expression

SCLCCM-032

<1% PD-L1 ≥1% PD-L1 PD-L1 not evaluable/missing Confirmed responders % change truncated to 100%

Opdivo 3 Opdivo 1 + Yervoy 3 Opdivo 3 + Yervoy 1

Best

cha

nge

from

bas

elin

e in

targ

et le

sion

vol

ume

(%)

Patients Patients Patients-100

-75

-50

-25

0

25

50

75

100

Antonia et al

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Events/Numberat risk60/9836/6135/55

mOS, months

4.47.76.0

1-yearOS rate, %

334335

Opdivo 3Opdivo 1 / Yervoy 3Opdivo 3 / Yervoy 1

43%

33%35%OS

(% o

f Pat

ient

s)

Time (Months)

272118151296300

10203040506070

100

8090

24

Overall SurvivalSCLCCM-032

• Opdivo + Yervoy regimen showed encouraging one-year overall survival.

Antonia et al

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Summary of -032 SCLC Safety

Opdivo 3(n = 98)

Opdivo 1 + Yervoy 3 (n = 61)

Opdivo 3 + Yervoy 1 (n = 54)

Any grade, %

Grade 3–4, %

Any grade, %

Grade 3–4, %

Any grade, %

Grade 3–4, %

Total treatment-related AEs 53 13 79 30 74 19

Fatigue 11 1 26 0 22 0

Pruritus 11 0 20 2 9 0

Diarrhea 7 0 21 5 17 2

Nausea 7 0 11 2 7 0

Decreased appetite 6 0 7 0 11 0

Hypothyroidism 3 0 16 2 7 0

Hyperthyroidism 2 0 11 0 6 0

Rash 2 0 20 3 7 0

Rash, maculopapular 1 0 13 3 4 0

Lipase increased 0 0 11 8 0 0

Treatment-relatedAEs leading to discontinuations

6 11 7

SCLCCM-032

Antonia et al• 3 treatment-related deaths

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Urothelial(Bladder)

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CheckMate-032:Study Design (Urothelial)BladderCM-032

Open-label, multicenter phase I/II study

Opdivo3 Q2W(n = 78)

Opdivo 1 + Yervoy 3

Q3W for 4 cycles (n = 26)

Opdivo 3 + Yervoy 1

Q3W for 4 cycles (n = 105)

Opdivo 3 Q2W

Patients with metastatic/locally advanced urothelial carcinoma

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Responses Opdivo(n = 78)

ORR, % (95% CI) 24.4 (15.3─35.4)Best overall response, %

Complete response 6.4Partial response 17.9Stable disease 28.2Progressive disease 38.5Unable to determine 9.0

ORR, % (95% CI) by PD-L1 expressionPD-L1 <1% 26.2 (13.9–42.0)PD-L1 ≥1% 24.0 (9.4–45.1)

CheckMate-032: Promising Objective Responses Regardless of PD-L1 Expression

BladderCM-032

Sharma et al

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Summary of Safety -032 Bladder

TRAEs = Treatment-Related Adverse Events

BladderCM-032

Sharma et al• Two treatment-related deaths

Opdivo (n = 78)

Any grade Grade 3–4TRAEs in ≥10% of patients, % 83 22

Fatigue 36 3Pruritus 30 0Lipase elevated 14 5Rash, maculopapular 18 3Nausea 13 1Arthralgia 12 0Anemia 10 0

Select TRAEs, %Gastrointestinal 10 1Hepatic 5 1Pulmonary 3 0Renal 9 1Skin 42 3

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Colorectal Cancer Microsatellite Instability High

(CRC MSI-H)

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Hypermutation and Immuno-Oncology

• In CRC, microsatellite instability (MSI) is associated with:

– Elevated neoantigen load

– Increases in immune infiltration and expression of immune checkpoint regulators1,2

• Strong rationale for checkpoint inhibitor blockade in CRC and other MSI-H tumors (e.g. gastric, endometrial)

1. Llosa NJ, et al. Cancer Discov. 2015;5:43-512. Giannakis M, et al. Cell Reports. 2016;15:857-865

CRC MSI-HCM-142

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Opdivo 70 19 13 9 5 0Opdivo +Yervoy 30 21 7 0 0 0

No. at Risk

013 1

0

0 3 6 9 12 15 21Months

010

20

30

40

50

60

70

80

90

100

Prog

ress

ion-

Free

Sur

viva

l(%

of p

atie

nts)

18

Progression-Free Survival with Opdivo + Yervoy and Opdivo Monotherapy

Opdivo 3 (n = 70)

Opdivo 3 + Yervoy 1(n = 30)

PFS rate, % (95% CI)6 mo9 mo12 mo

45.9 (29.8, 60.7)45.9 (29.8, 60.7)45.9 (29.8, 60.7)

66.6 (45.5, 81.1)NENE

Median PFS, mo (95% CI)

5.3 (1.5, NE) NE (3.4, NE)

CRC MSI-HCM-142

Overman et al

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Opdivo +Yervoy 30 26 21 4 0 0

No. at Risk

0

Opdivo 70 34 24 20 12 021 5

0

0 3 6 9 12 15 21Months

010

20

30

40

50

60

70

80

90

100

Ove

rall

Surv

ival

(% o

f pat

ient

s)

18

Opdivo 3(n = 70)

Opdivo 3 + Yervoy 1(n = 30)

OS rate, % (95% CI)6 mo9 mo12 mo

75.0 (58.5, 85.7)65.6 (48.0, 78.6)65.6 (48.0, 78.6)

85.1 (65.0, 94.2)85.1 (65.0, 94.2)

NE

Median OS, mo (95% CI)

17.1 (8.6, NE) NE (NE, NE)

CRC MSI-HCM-142Overall Survival with Opdivo + Yervoy

and Opdivo Monotherapy

Overman et al

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ASCO 2016 – Other Key Data

Head and NeckCheckMate-141

• Phase 3 study evaluating Opdivo versus investigator’s choice in patients with recurrent/metastatic platinum-refractory SCCHN

• Results: Meaningful improvement in OS regardless of PD-L1 and HPV status; safety consistent with prior studies

• Regulatory filings under way

Hepatocellular CarcinomaCheckMate-040

• Phase 1/2 study evaluating safety and antitumor activity of Opdivo in patients with advanced hepatocellular carcinoma

• Results: Encouraging responses, duration of response, and OS data in tumor with high unmet medical need

Hodgkin LymphomaCheckMate-205(Cohort B)

• First PD-1 approved in hematological malignancies• Results: Durable and high response rates; majority of responses

ongoing at analysis• Approved in US; under review in EU and Japan

GlioblastomaCheckMate-143(Cohort 1 and 1b)

• High unmet need with limited therapeutic options• Encouraging efficacy and safety of Opdivo monotherapy and Opdivo

plus Yervoy regimen in recurrent GBM

Gastric CancerCheckMate-032

• High unmet need• Encouraging activity with Opdivo monotherapy and Opdivo plus

Yervoy regimen, regardless of PD-L1 expression• Phase 3 of Opdivo 1 + Yervoy 3 planned

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ASCO 2016: Key Takeaways

• Unprecedented first line lung data with Opdivo and Yervoy in PD-L1 expressers

• Broadening the Potential Benefit of Opdivo + Yervoy

• Redefining the Potential for Long-Term Survival

• Promise of I-O in additional tumors

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The Next Generation of Transformational Innovationin Immuno-Oncology

Mike BurgessHead of Exploratory Clinical and

Translational Research

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A High Bar for Success – Continuing to Deliver Transformational Research

Follow the science with a deep portfolio

Focus on unmet medical

needs

Innovative designs for speed and execution

High bar for success

Rapid and robust decision

making

Learn and adapt to evolving

landscape

PAT IENT

Transforming cancer care withOpdivo & Yervoy

Focused on long-term survival

Strive to developnew therapies

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StrongTranslational

Research

Broad Portfolio

Innovative and Efficient Trial

Design

Striving to Develop New Therapiesas the Future Standards of Care

Three Pillarsfor Success with New Agents and

Emerging Science

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At the Forefront of Science –Exploring New Mechanisms

Broad Portfolio

*Targets are listed by primary mechanisms. Secondary mechanisms may exist.

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At the Forefront of Science –Exploring Effector T-Cell Mechanisms

Broad Portfolio

*Targets are listed by primary mechanisms. Secondary mechanisms may exist.

Activating

CD137

GITR

OX40

Inhibitory

CTLA4

PD1

Lag3

T cell

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At the Forefront of Science –Exploring NK Cell Mechanisms

*Targets are listed by primary mechanisms. Secondary mechanisms may exist.

Broad Portfolio

Activating

SLAMF7

CD137

Inhibitory

KIR

NK cells

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At the Forefront of Science –Exploring Non Effector Cell Mechanisms

*Targets are listed by primary mechanisms. Secondary mechanisms may exist.

Broad Portfolio

Inhibitory

CD73

CSF1R

IDO

CTLA4

Dendritic cell(APC)

Tumor associatedmacrophage

RegulatoryT cell

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At the Forefront of Science –Exploring Tumor Cell Targeted Pathways

*Targets are listed by primary mechanisms. Secondary mechanisms may exist.

Broad Portfolio

BCR-ABL

BET

CXCR4

Fucosyl-GM1

HER2

Mesothelin(ADC)

Glypican-3 (ADC)

Tumor cells

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At the Forefront of Science –Exploring New Mechanisms

ActivatingCD137GITROX40InhibitoryCTLA4PD1Lag3

Effector T-Cell Mechanisms

ActivatingSLAMF7CD137

InhibitoryKIR

NK Cell Mechanisms

Non Effector Cell Mechanisms InhibitoryCD73CSF1RIDOCTLA4

Tumor Cell Targeted PathwaysBCR-ABLBETCXCR4Fucosyl-GM1HER2Mesothelin(ADC)Glypican-3 (ADC)

Broad Portfolio

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Innovative and Efficient Trial Design

Opdivomonotherapy

Opdivo+ X Combo

Opdivo+ Y Combo

Opdivo+ Z Combo

Novel Combo X+Y

• Innovative designto efficiently evaluate I-O combos for delivery of transformational effects

• Ability to explore potential benefits across range of patients

• New investigational treatments administered based on patient response

New Opdivo Combo

Triple Combo

Following the Patient Experience with Innovative Clinical Trial Design – The FRACTION* Program

Patients with advanced NSCLC(squamous & non-squamous)

PDL1+

PDL1-

I-O therapy experienced

I-O therapy naive

*Fast Real-time Assessment of Combination Therapy in Immuno-ONcology Program

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Understanding Biologic andTranslational Science – A Holistic Approach

Strong Translational Research

THE TUMOR AS AN ORGAN

INTEGRATION OF DATA TO EMPOWER:Biomarkers that predict response

New targets and rational combinations

Optimal diagnostics

Resistance mechanisms

Pathology Genomics

ProteomicsFlow Cytometry

Sample Management

FOUNDATIONAL SCIENCEI-O UP-INVESTMENT

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Transforming Cancer Care for Patients –Progress on Next Generation Therapies

Disclosures in 2016

Potential Disclosuresin 2017

Planned for ESMO or SITC 2016

Lirilumab /Urelumab

• Safety and preliminary efficacy of combinations including Opdivo

Anti-LAG3

• Safety and PK/PD of monotherapy and combination with Opdivo

Anti-Fucosyl-GM1

• Safety, PK/PD and preliminary efficacy

Data Updates• Lirilumab• Urelumab• Anti-LAG3• Anti-Fucosyl-GM1

New Assets• Anti-CSF1R• IDOi• Anti-GITR• Anti-CD73• Mesothelin-ADC• BETi

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• Focused on improving outcomes for: –Rapidly progressing disease

–Resistant & Refractory disease

–Sub-optimal response

• Pursuing next generation transformational opportunities across a broad range of disease areas and modalities

• Pioneering I-O therapies to continue our leadership

Unwavering Focus on Patients and Commitment to Quality Science

Diverse early portfolio of immunological mechanisms of action

10 clinical stage I-O moleculesby early 2017

5 targeted oncology clinical stage molecules

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ASCOInvestor MeetingJune 4, 2016

*American Society of Clinical Oncology, June 3 - 7, 2016

2016*