CEO Caforio used the J.P. Morgan stage to try to assuage Celgene investors who recently lost out on a $9 CVR under the buyout, playing up the long-term promise of the combined company. 

Pfizer, BMS and Lilly see sales impacted by Part D changes that leave some beneficiaries in the coverage gap longer this year, extending manufacturer discount obligations.

Recent launches and products acquired with Celgene are helping BMS grow, CEO Caforio said, while Opdivo is moving toward resuming growth thanks to first-line NSCLC and other factors.