Bristol-Myers Squibb Company (NYSE:BMY) Q4 2014 Earnings Conference Call - Final Transcript

Jan 27, 2015 • 09:00 am ET


Bristol-Myers Squibb Company (NYSE:BMY) Q4 2014 Earnings Conference Call - Final Transcript


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Good morning, my name is Candice and I will be your conference operator today. At this time I would like to welcome everyone to the Bristol Myers 2014, Fourth Quarter Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question-and-answer session. (Operator Instructions) Thank you, Mr. John Elicker, you may begin your conference.

John Elicker

Thanks, Candice, and good morning everybody, my apologies for any of you who have difficulty dialing into the call, there was some confusion around the start date, but this -- I think we're ready to go at this point.

We're here to discuss our Q4 earnings and as well we issued our 2015 guidance. With me this morning are Lamberto Andreotti, Our CEO; Giovanni Caforio, our Chief Operating Officer, Charles Bancroft our Chief Financial Officer; and Francis Cuss our Chief Scientific Officer; Lamberto, Giovanni and Charlie will have some brief prepared remarks and then we'll go to your questions.

First I will take care of the Safe Harbor language. (Forward-looking Cautionary Statements) We'll also discuss non-GAAP financial measures adjusted to exclude certain specified items. Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures, are available at our website. Lamberto?

Lamberto Andreotti

Well, thank you, John. Good morning, everyone. First did you all know, we announced last week that effective May 5 I will be regarding as CEO of Bristol Myers Squibb. While remaining on our Board of the Directors and becoming each chairman replacing Jim Cornelius. Jim's role in our company is been transformational and outstanding and I feel honored to have worked with him for many years, and now to take over from him Ex-Chairman. And maybe please that Giovanni, Giovanni Caforio, would be my successor as CEO Giovanni is a global business leader, with grow the industry and management experience, including a solid background in oncology. He is also a trained physician who brings to his work an important perspective and settling.

Importantly Giovanni is not only being a key player in developing our strategy it's about several years is also being one of the driving force is executing against it. So I feel very good about leading our company in his very capable act. I'm going to ask Giovanni and Charlie to walk you through our fourth quarter results. But before I do that, I will speak for a few minutes, about some of the highlights for the past year. Because 2014 was without questions an importantly year for Bristol Myers Squibb.

I'm very pleased and very prod about it. In 2014 we accelerated our evolution to being a diversified specialty biopharma company. Beginning with the completion of the divestiture of our diabetic business. Under Giovanni's leadership, we refocused our commercial organization to optimize global brand and key markets.

This allowed us to drive strong sales across our portfolio and across the world. In fact our commercial organization had a good year delivering 6% sales growth, excluding the diabetes franchise.