Bristol Myers Squibb
Q3 2022 Earnings Call
Oct 26, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and welcome to the Bristol Myers Squibb third quarter results conference call. [Operator instructions] At this time, I would like to turn the conference over to Mr. Tim Power, vice president, investor relations. Please go ahead, sir.
Tim Power -- Vice President, Investor Relations
Thanks, Dennis. And good morning, everyone. Thanks for joining us this morning for our third quarter 2022 earnings call. Joining me this morning with prepared remarks are Giovanni Caforio, our board chair and chief executive officer; and David Elkins, our chief financial officer.
Also participating in today's call are Chris Boerner, our chief commercialization officer; and Samit Hirawat, our chief medical officer and head of global drug development. As you'll know, we've posted slides to bms.com that you can follow along with for Giovanni and David's remarks. But before we get going, I'll read our forward-looking statement. During this call, we'll make statements about the company's future plans and prospects that constitute forward-looking statements.
Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the company's SEC filings. These forward-looking statements represent our estimates as of today and should not be relied upon as representing our estimates as of any future date. We specifically disclaim any obligation to update forward-looking statements, even if our estimates change. We'll also focus our comments on our non-GAAP financial measures, which are adjusted to exclude certain specified items.
Reconciliations of certain non-GAAP financial measures to the most comparable GAAP measures are available on bms.com. With that, I'll hand it over to Giovanni.
Giovanni Caforio -- Chairman and Chief Executive Officer
Thank you, Tim. And good morning, everyone. Starting on Slide 4. I'm pleased to share that we delivered another good quarter, and we continue to advance our strategy to position Bristol Myers Squibb for sustainable growth.
In the third quarter, our in-line and new product portfolio grew by 13%, adjusting for foreign exchange. And we delivered non-GAAP EPS growth of 3%, while also making substantial progress advancing our promising pipeline. Highlights for the quarter included the approval of Sotyktu, our first-in-class TYK2 inhibitor for psoriasis, and closing of our Turning Point acquisition, which brings another product to our portfolio with repotrectinib expected to launch in the second half of next year. Overall, I am very pleased that we have significantly advanced the renewal of our portfolio.