Thanks, Giovanni, and good morning, everyone.
Building moving on during it color comments how start by providing we I-O dynamics quarter our think Giovanni's regarding about business Checkmate-XXX, and some I'll in about additional forward. the
across U.S., lung. renal to both share indications and metastatic and first-line adjuvant see second-line we cell In including melanoma, continue strong
second-line eligible which we also expected, see of As lung pool has decline, the size of demand the sequentially. patients continue to impacted
the some also slightly were primarily compared inventory all non-promoted XX% first-line especially almost to being sales sequentially demand share cancer. use from cell within due increased patients. intermediate risk Opdivo+Yervoy, to to and unfavorable XX%, small poor of QX, competition at Though to U.S., in impact market, were strong the in renal Yervoy cell we there lung lower down maintained of
Internationally, we in the being much the than the pool more see as of to continue patient slowly. second-line the declines more U.S. lung size opportunity durable
than U.S. similar we for Our the driven Germany, teams to the have and renal in higher cell that some is markets of these cell share In Opdivo+Yervoy first-line Japan UK. very first-line rapidly in in or seeing cases are markets, reimbursed good as such adoption renal
for Consistent market competitive the it's in Keytruda is reimbursed. treated U.S., the an adjuvant in experience markets around melanoma was in U.S., than This the our we've seen however more also launched same expansion with where population time. given of the
competitive Checkmate-XXX. given we Opdivo Opdivo the pressure some continue compared expect business for likely respect forward, XXXX, on With to growth XXXX, to Looking of year-over-year and timing the dynamics approval to year. this we for expect in
beyond position cancer in the adjuvant Opdivo future However, for growth potential XXXX, next XXXX. along potential launch looking will we indications opportunity in with first-line believe year, settings additional metastatic and across lung
to patients quarter. Eliquis position remarkable to Eliquis, for as option world VTE which in many while around substantial the and markets the anticoagulation now forward. Turning one key cement delivered continues enjoying continued AF growth its room for treatment moving number another
year. leading expansion In the share second quarter to class by XX% was within NOAC with grew the driven category. Eliquis compared the the U.S. Eliquis This a commanding demand last over of continued
in I’ve patients which that in we the that described is enter past, is as substantially the means low hole year. be of the liability factor in half important higher As Eliquis for QX hole, second to the donut this QX QX in QX. accrue Recall relatively mind for will but donut bear and the an the and
year, the we've significantly, the patients has increased of higher liability, $XXX this be volumes in The XX% component Additionally, mix. year. will XXXX, magnitude Medicare which million Eliquis this much have was our XX% of in to sales from a we and increased roughly liability larger
growth. we term forward continue to see the longer Looking significant Eliquis, to headroom for for
our to XX% share TRx XX% U.S. at over Within under is new-to-brand stands time converge currently the Eliquis today. and just share, overall will almost market, which the
best-in-class to see Eliquis We the with we in use. expand continued with share continue also declines expect the its have warfarin steadily profile, category. increasing within the to seen class NOAC And
believe we there over treatment. market undiagnosed see uncontrolled as time potential the is Finally, expand to patients enter and
Celgene. our Now, to future with turning
we year and late year. at progress this to integrate discussed, making Giovanni we are expect good to As companies, preparing the or close next early
We last me have planned is significant the divestiture an believe sale process. we buyers. month starting some with OTEZLA. Let the attractive potential preparing had interest are announced We late asset the details discuss and and of OTEZLA now from
have of FTC, subsequently a the with be close on divested. sale to and draft which point, definitive sale need will the decree agree allow acquisition the to agreement. consent expect we we Celgene with a know, the enter into you OTEZLA As to once terms that At formalize for will we to FTC, and the
process, on clearance. the X targeting we ends Phase EU review With XXth, to are respect a and the period July
We we Commission's will the receive provide when decision. update European an
issuing financing in we attractive bond rate. for the deal of In by our billion quarter, locked the at financing permanent $XX
date, for have We time even BMS be to good actively the one. now collaboration transfer And to very between with close day better later prepared and we with integration continue the Celgene. more
rate expecting are by three. still run synergies end achieve to year billion of the of We $X.X
bear calendar later, date we The though has modest, and couple which the of can OTEZLA, phasing absorb believe synergies, as we close we’ve said, impact, synergies a and there is Regarding have moved back, of from impact. in mind. things come would to are this just
A few overall the for comments outlook the on Company. financial
read Celgene’s through have Checkmate-XXX opportunity addition of for opportunity to rationale strengthen Taking grow the to progress. S-X to the acquisition all factors account, out, with the important Since at the OTEZLA just FDA. we've we these Celgene closed, into deal developments the and the described, several financials sale As seen the we've the year, value seen assets for the the is end prepared pipeline in XXXX. see three to late pipeline filed stage UPSA divestment. since Giovanni we continue with last of been were the continuing announced
in the stale. projections close, will we companies the become continue will S-X more to Until the two and evolve
So, we reference don't plan to update or them. to continue
will soon However, Company's provide closes. the deal a perspective we on outlook after the
We XX-year allocation to we’ve as forma to dividends the to modeled financials. where by in previously we of And record Switching capital increases track continual pro balanced plan dividend remain as annual we've our approach. increases. mentioned, evidenced committed our our continue
capital regard excess of years. future next planned the structure. initial flows, cash importance which are In be and OTEZLA deleveraging the this as mind, proceeds, to our We With to the upfront avoid to acceleration of we reduce few debt view in used leverage. over recognize an
in to our less expect X.X EBITDA times to continue We to ratio than debt gross see at XXXX.
be development to Business continues important.
our have debt. to review billion Complementing over the will practice, share at billion plans $X past years, cash we a of forward, repurchases past few cash execute close. have early continually, the already distributing solid our to into looking positions with deals to the Similar smaller and of the of expect account a for $X ASR in capital. remain shareholders allocation plans reduce our almost and repurchases share over debt we working stage while active for next dividend, years. we alternatives And announced to taking in to We XX history
franchise along and earlier and with delivered opportunities Opdivo+Yervoy another TYKX our lifecycle the To that potential with I-O, quarter. strong the management pipeline first-line well in have we for will the opportunity from Celgene, lung future. breadth growing close, us the launches of very in the the we position Eliquis We believe
Now, it I'll to back Q&A. turn to John the start
