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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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  "presentationDate": "2019-03-18 00:00:00",
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      "kind": "callout",
      "text": "This is a massive bet on Celgene’s pipeline made with just two weeks of full due diligence!",
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      "text": "2028 Pipeline Revenue: $18 billion",
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      "text": "We estimate that the ~$18 billion base case pipeline revenue for 2028 is broken down into near-term launch opportunities of ~$11 billion and earlier-stage opportunities of ~$7 billion.",
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      "text": "Bristol-Myers management believes Celgene can reinvent itself through the company’s existing pipeline",
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      "kind": "title",
      "text": "Celgene Will Need to Effectively Reinvent Itself by 2028 in Order to Reach Bristol-Myers’ Base Case Assumptions (cont’d)",
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