1. John Celentano
Senior Vice President
Strategy and Productivity Transformation
Lehman Brothers Healthcare Conference
March 19, 2008
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community/industry audience-

2. Next Generation BioPharma
Best of Pharma
Best of Biotech
Next Generation
BioPharma
Selectively
Innovative Continuous
Integrated
Portfolio Improvement
Business Model
Agile, Entrepreneurial and Accountable Culture
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3. Culture
On track to embed a high performance culture that
supports the Next Generation BioPharma Model
Agile and entrepreneurial
Clear accountability and delegation of authority
Innovation and performance with integrity
Continuous improvement
Progress to date
Initiated change management program
Engaging employees
Created aligned incentives
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4. Execution of BMS Biologics Strategy
Adnexus Ipilimumab Devens Bulk Erbitux
Manufacturing
(Cancer) (Cancer)
Internal
Belatacept Orencia
pipeline Syracuse
(Solid Organ (Rheumatoid
Third Party
Transplant) Arthritis)
Manufacturers
VEGF R-2
Inhibitor
(Cancer)
Anti-CD137
(Cancer)
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5. 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
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6. Top 50 Initiatives Generate Significant
Proportion of Savings
Savings $1.5 B
Next 250 Initiatives
First 50 300 Initiatives Identified
Initiatives
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7. Cost-Disciplined Science:
Clinical Studies
Examples: Limit over-recruitment and reduce
clinical data collected
Impact:
Limit Over- Improved Data
+
Recruitment Management >$20MM
Currently over- Currently collect
recruit for many >25MM data
points at $3/point
clinical trials
Proactively Collect and
manage process only
recruitment in a necessary data
staged way through upfront
cost/benefit
evaluation
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8. Apply Lean Thinking to Streamline
Processes
Example: Optimize Drug Supply Process
Unused
Supplies Reduce unused
Supplies
Spend
supplies by
~$170MM ~$50MM >40%
~30% of supplies Improve
unused at clinical enrollment
sites and returned forecasts
Modify inventory
levels
Savings >$20MM
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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
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10. Customer Model Restructured to Support
BioPharma
12,000
Primary Care
10,000
Specialty
8,000 Field-Based Medical
FTEs
Total Field Force
6,000
4,000
2,000
0
2005 2006 2007 2008
Specialty Model synergizes Sales Force and Field-Based
Medical experts
Partnering on Primary Care maximizes capacity and
capability while minimizing fixed overhead
Increasing productivity
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11. Growth Driven by Expanding Global Portfolio
and Continued Strong Pipeline
Key Products
+46% +29% +21% +10% +6%
New Product Launches
Pipeline
ipilimumab saxagliptin dapagliflozin apixaban belatacept
Full Year 2007 % Increase – as reported
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12. Plavix: 2008 Action Plan
Market Leadership – Build on Brand Equity
Grow Peripheral Grow Acute
Arterial Disease Coronary Syndrome Maintain
Business Business Stroke Business
Increase Drive early Drive early
diagnosis initiation in initiation in
accordance
accordance with
Increase with guidelines
penetration guidelines
in diagnosed Increase hospital
patients focus
To Ensure Continued Improvement in Patient Care
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13. Abilify: Drivers of Growth
DTC expansion
Patient focused
messaging Branded &
Unbranded DTC
New indications
Patient Focused Selling Pieces
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14. Orencia Strategic Focus
Reimbursement specialists
Payer engagement
Patient assistance
Orencia durability / efficacy data
DTC Campaign Launched
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15. Sprycel: Drivers of Growth
Enhanced profile and label in key markets
– Lower 100 mg QD starting dose in chronic
phase with similar efficacy and lower frequency
of certain side effects
– First and only TKI with randomized data
regarding Gleevec in label
Phase II prostate data expected at ASCO
1st Line CML registration trial initiated
– Sprycel 100 mg QD vs. Gleevec 400 mg
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16. Ixempra-Breast Cancer Business Opportunity
Evolution (2008 Patients U.S. Market)
# Patients
Trials
-087
Adjuvant 2014 +
117,000 -100
Neo-adjuvant
2012 + -115
60,000
Taxane Naïve
Anthracycline / Taxane 2009 -048
38,000
Pretreated*
Anthracycline / Taxane
23,000 -046
2007
Refractory*
Launch -081
9,000
Anthracycline / Taxane /
Capecitabine Pretreated*
*Includes patients who may be contraindicated for anthracylines
Source: IntrinsiQ Breast Cancer Treatment Tree
Distribution of AT Pretreated vs. AT refractory patients
estimated based on primary data source
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17. Development Portfolio
Life Cycle
Full Development
Exploratory Development Management
(Registrational, Filed)
• Androgen Receptor Antagonists (Cancer) • Ixempra (Ixabepilone) • Sprycel (Cancer)
• IGF-1R Antagonist (Cancer) (Cancer)
• VEGF R-2 Inhibitor (Cancer) • Erbitux (Cancer)
• Brivanib-VEGFR/FGFR Inhibitor (Cancer)
• Ipilimumab
• ErbB/VEGF Receptor Inhibitor (Cancer) • Orencia
(Cancer)
• Anti-CD137 Antibody (Cancer) (Rheumatoid Arthritis)
• Epothilone-Folate (Cancer)
• Belatacept
• Met Kinase Inhibitor (Cancer) • Plavix
• SMO Inhibitor (Cancer) (Solid Organ Transplant) (Atherothrombosis)
• Hsp90 Inhibitor (Cancer)
• p38 Kinase Inhibitors (Rheumatoid Arthritis) • Saxagliptin • Avapro / Avalide
• CCR2/CCR5 Dual Antagonist (Immunology) (Diabetes) (Hypertension)
• CCR2 Antagonist (CV / Met)
• 11βHSD Inhibitor (Diabetes)
• Abilify
• Dapagliflozin
• DPP4 Inhibitor Backup (Diabetes)
(Psychiatric Disorders)
(Diabetes)
• CB1 Antagonist (Obesity)
• DGAT Inhibitors (CV / Met)
• Baraclude
• Apixaban
• LXR Agonist (Atherosclerosis)
(Hepatitis B)
• CRF Antagonists (Affective Disorders) (Thrombosis)
• Triple Reuptake Inhibitor (Depression)
• Reyataz (HIV/AIDS)
• Gamma Secretase Inhibitor (Alzheimer’s)
• HCV Inhibitor Target 1 (Hepatitis C)
• Sustiva / ATRIPLA
• HCV Inhibitor Target 2 (Hepatitis C)
(HIV/AIDS)
• HCV Inhibitor Target 3 (Hepatitis C)
• HIV Attachment Inhibitor (HIV/AIDS)
• HIV Integrase Inhibitor (HIV/AIDS)
As of December 2007
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18. BMS Late-Stage Portfolio Targets
Unmet Medical Need
ipilimumab
dapagliflozin
Clinical Advance
belatacept
ixabepilone apixaban
saxagliptin
Medical Need
* Circle size is relative peak year sales
by BMS estimates.
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19. 2008 Key Data Flow
Lupus: ACR, Oct 2008
Orencia Early RA: ACR, Oct 2008
RA Prevention: EULAR, June 2008
Sprycel Prostate cancer: ASCO, June 2008
Erbitux Lung cancer: ASCO, June 2008
ACTIVE-A data available: 2H 2008
Plavix
CURRENT data available: 2H 2008
MBC -046 survival data: ASCO Breast, Sept 2008
Ixempra
MBC -048 survival data: SABCS, Dec 2008
Ipilimumab Metastatic melanoma: ASCO, June 2008
Belatacept Ph III data available: 4Q 2008
Ph III data: ADA, June 2008
Saxagliptin
Ph III data: EASD, Sept 2008
Dapagliflozin Ph IIb data: ADA, June 2008
Ph II ACS data: ESC, Aug/Sept 2008
Apixaban
Ph III VTE prevention data: ASH, Dec 2008
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community/industry audience- 19

20. Next Generation BioPharma
Best of Pharma
Best of Biotech
Next Generation
BioPharma
Selectively
Innovative Continuous
Integrated
Portfolio Improvement
Business Model
Agile, Entrepreneurial and Accountable Culture
This presentation is intended solely for an investment community/industry audience-not for promotional use
community/industry audience- 20

21. John Celentano
Senior Vice President
Strategy and Productivity Transformation
Lehman Brothers Healthcare Conference
March 19, 2008
This presentation is intended solely for an investment community/industry audience-not for promotional use
community/industry audience-