1-year budget
Build the 12-month plan bottom-up from volume and price drivers, or phase it top-down from your actuals.
Scenarios
Base, Upside and Downside each keep their own full set of drivers. Edits below always save to the selected scenario on this device.
Excel template
Download the pre-formatted driver template (with an Instructions sheet), fill in your 12 monthly volumes and assumptions offline, then upload it to populate “Base”.
Net product revenue
$39.7B
Gross-to-net
31.9%
Gross margin
84.0%
EBITDA
$13.3B · 33.5%
Volume & price drivers by brand — Base
Enter monthly demand in 000s of units per brand, then set list price, gross-to-net deductions, COGS and LOE erosion. Hover any column header for what it means and a sensible default range.
| Brand | Price $/unit | GTN % | COGS % | LOE erosion %/mo | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | FY net rev | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cardiovascular | $10.6B | |||||||||||||||||
| Oncology | $14.5B | |||||||||||||||||
| Haematology | $6.27B | |||||||||||||||||
| Haematology | $2.92B | |||||||||||||||||
| Cardiovascular | $3.69B | |||||||||||||||||
| Immunology | $1.79B |
Month-wise sales by brand — FY 1971
Every revenue line item phased across the 12 months, per brand and for the total portfolio.
Show line items:
| Brand / line item | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | FY total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Eliquis (apixaban)Cardiovascular | |||||||||||||
| Volume (000s units) | 2,296 | 2,349 | 2,419 | 2,490 | 2,544 | 2,570 | 2,564 | 2,529 | 2,477 | 2,424 | 2,388 | 2,380 | 29,430 |
| Gross sales | $1.42B | $1.46B | $1.50B | $1.54B | $1.58B | $1.59B | $1.59B | $1.57B | $1.54B | $1.50B | $1.48B | $1.48B | $18.2B |
| Gross-to-net deductions | -$597.9M | -$611.7M | -$629.9M | -$648.4M | -$662.5M | -$669.2M | -$667.7M | -$658.6M | -$645.0M | -$631.2M | -$621.8M | -$619.8M | -$7.66B |
| Net sales | $825.6M | $844.7M | $869.9M | $895.4M | $914.8M | $924.2M | $922.0M | $909.4M | $890.7M | $871.7M | $858.7M | $855.8M | $10.6B |
| Cost of goods sold | -$99.1M | -$101.4M | -$104.4M | -$107.4M | -$109.8M | -$110.9M | -$110.6M | -$109.1M | -$106.9M | -$104.6M | -$103.0M | -$102.7M | -$1.27B |
| Gross profit | $726.6M | $743.3M | $765.5M | $788.0M | $805.0M | $813.3M | $811.4M | $800.3M | $783.8M | $767.1M | $755.7M | $753.1M | $9.31B |
| Opdivo (nivolumab)Oncology | |||||||||||||
| Volume (000s units) | 205 | 208 | 212 | 216 | 219 | 221 | 221 | 219 | 217 | 214 | 213 | 213 | 2,578 |
| Gross sales | $1.52B | $1.54B | $1.57B | $1.60B | $1.62B | $1.64B | $1.64B | $1.62B | $1.61B | $1.58B | $1.58B | $1.58B | $19.1B |
| Gross-to-net deductions | -$364.1M | -$369.4M | -$376.5M | -$383.6M | -$388.9M | -$392.5M | -$392.5M | -$388.9M | -$385.4M | -$380.1M | -$378.3M | -$378.3M | -$4.58B |
| Net sales | $1.15B | $1.17B | $1.19B | $1.21B | $1.23B | $1.24B | $1.24B | $1.23B | $1.22B | $1.20B | $1.20B | $1.20B | $14.5B |
| Cost of goods sold | -$253.6M | -$257.4M | -$262.3M | -$267.3M | -$271.0M | -$273.4M | -$273.4M | -$271.0M | -$268.5M | -$264.8M | -$263.5M | -$263.5M | -$3.19B |
| Gross profit | $899.3M | $912.4M | $930.0M | $947.5M | $960.7M | $969.5M | $969.5M | $960.7M | $951.9M | $938.8M | $934.4M | $934.4M | $11.3B |
| Revlimid (lenalidomide)Haematology | |||||||||||||
| Volume (000s units) | 93 | 90 | 88 | 84 | 82 | 79 | 75 | 72 | 68 | 64 | 61 | 58 | 913 |
| Gross sales | $911.4M | $879.7M | $858.0M | $828.0M | $798.9M | $770.7M | $736.0M | $702.9M | $664.5M | $628.1M | $599.8M | $572.8M | $8.95B |
| Gross-to-net deductions | -$273.4M | -$263.9M | -$257.4M | -$248.4M | -$239.7M | -$231.2M | -$220.8M | -$210.9M | -$199.3M | -$188.4M | -$180.0M | -$171.9M | -$2.69B |
| Net sales | $638.0M | $615.8M | $600.6M | $579.6M | $559.2M | $539.5M | $515.2M | $492.0M | $465.1M | $439.7M | $419.9M | $401.0M | $6.27B |
| Cost of goods sold | -$57.4M | -$55.4M | -$54.1M | -$52.2M | -$50.3M | -$48.6M | -$46.4M | -$44.3M | -$41.9M | -$39.6M | -$37.8M | -$36.1M | -$563.9M |
| Gross profit | $580.6M | $560.4M | $546.6M | $527.4M | $508.9M | $490.9M | $468.8M | $447.7M | $423.3M | $400.1M | $382.1M | $364.9M | $5.70B |
| Reblozyl (luspatercept)Haematology | |||||||||||||
| Volume (000s units) | 56 | 58 | 60 | 63 | 65 | 67 | 67 | 68 | 68 | 67 | 67 | 68 | 773 |
| Gross sales | $285.6M | $295.1M | $304.7M | $320.0M | $330.2M | $340.6M | $340.2M | $345.3M | $344.7M | $344.0M | $343.3M | $348.4M | $3.94B |
| Gross-to-net deductions | -$74.3M | -$76.7M | -$79.2M | -$83.2M | -$85.8M | -$88.6M | -$88.4M | -$89.8M | -$89.6M | -$89.5M | -$89.3M | -$90.6M | -$1.02B |
| Net sales | $211.3M | $218.3M | $225.5M | $236.8M | $244.3M | $252.1M | $251.7M | $255.5M | $255.1M | $254.6M | $254.0M | $257.8M | $2.92B |
| Cost of goods sold | -$38.0M | -$39.3M | -$40.6M | -$42.6M | -$44.0M | -$45.4M | -$45.3M | -$46.0M | -$45.9M | -$45.8M | -$45.7M | -$46.4M | -$525.1M |
| Gross profit | $173.3M | $179.0M | $184.9M | $194.2M | $200.4M | $206.7M | $206.4M | $209.5M | $209.2M | $208.8M | $208.3M | $211.4M | $2.39B |
| Camzyos (mavacamten)Cardiovascular | |||||||||||||
| Volume (000s units) | 40 | 41 | 43 | 45 | 47 | 49 | 50 | 51 | 51 | 52 | 52 | 54 | 576 |
| Gross sales | $328.0M | $336.2M | $353.2M | $370.9M | $389.2M | $398.9M | $408.9M | $419.1M | $419.6M | $430.1M | $430.4M | $441.1M | $4.73B |
| Gross-to-net deductions | -$72.2M | -$74.0M | -$77.7M | -$81.6M | -$85.6M | -$87.8M | -$90.0M | -$92.2M | -$92.3M | -$94.6M | -$94.7M | -$97.0M | -$1.04B |
| Net sales | $255.8M | $262.2M | $275.5M | $289.3M | $303.6M | $311.2M | $318.9M | $326.9M | $327.3M | $335.5M | $335.7M | $344.1M | $3.69B |
| Cost of goods sold | -$38.4M | -$39.3M | -$41.3M | -$43.4M | -$45.5M | -$46.7M | -$47.8M | -$49.0M | -$49.1M | -$50.3M | -$50.4M | -$51.6M | -$552.9M |
| Gross profit | $217.5M | $222.9M | $234.2M | $245.9M | $258.0M | $264.5M | $271.1M | $277.9M | $278.2M | $285.2M | $285.3M | $292.5M | $3.13B |
| Sotyktu (deucravacitinib)Immunology | |||||||||||||
| Volume (000s units) | 115 | 119 | 126 | 132 | 137 | 142 | 144 | 145 | 145 | 145 | 145 | 148 | 1,644 |
| Gross sales | $241.5M | $250.6M | $264.4M | $276.3M | $288.7M | $299.1M | $302.7M | $303.9M | $305.1M | $303.7M | $304.6M | $310.7M | $3.45B |
| Gross-to-net deductions | -$115.9M | -$120.3M | -$126.9M | -$132.6M | -$138.6M | -$143.6M | -$145.3M | -$145.9M | -$146.4M | -$145.8M | -$146.2M | -$149.1M | -$1.66B |
| Net sales | $125.6M | $130.3M | $137.5M | $143.7M | $150.1M | $155.5M | $157.4M | $158.0M | $158.7M | $157.9M | $158.4M | $161.6M | $1.79B |
| Cost of goods sold | -$17.6M | -$18.2M | -$19.2M | -$20.1M | -$21.0M | -$21.8M | -$22.0M | -$22.1M | -$22.2M | -$22.1M | -$22.2M | -$22.6M | -$251.3M |
| Gross profit | $108.0M | $112.1M | $118.2M | $123.6M | $129.1M | $133.8M | $135.4M | $135.9M | $136.4M | $135.8M | $136.2M | $139.0M | $1.54B |
| Total portfolio | |||||||||||||
| Volume (000s units) | 2,805 | 2,865 | 2,947 | 3,030 | 3,094 | 3,128 | 3,121 | 3,083 | 3,026 | 2,967 | 2,927 | 2,922 | 35,914 |
| Gross sales | $4.71B | $4.76B | $4.85B | $4.94B | $5.00B | $5.04B | $5.01B | $4.96B | $4.88B | $4.79B | $4.73B | $4.72B | $58.4B |
| Gross-to-net deductions | -$1.50B | -$1.52B | -$1.55B | -$1.58B | -$1.60B | -$1.61B | -$1.60B | -$1.59B | -$1.56B | -$1.53B | -$1.51B | -$1.51B | -$18.6B |
| Net sales | $3.21B | $3.24B | $3.30B | $3.36B | $3.40B | $3.43B | $3.41B | $3.37B | $3.32B | $3.26B | $3.22B | $3.22B | $39.7B |
| Cost of goods sold | -$504.1M | -$511.0M | -$521.9M | -$533.0M | -$541.6M | -$546.7M | -$545.6M | -$541.5M | -$534.5M | -$527.2M | -$522.6M | -$523.0M | -$6.35B |
| Gross profit | $2.71B | $2.73B | $2.78B | $2.83B | $2.86B | $2.88B | $2.86B | $2.83B | $2.78B | $2.74B | $2.70B | $2.70B | $33.4B |
Month-wise trends
Gross sales, net sales, COGS and gross profit phased across FY 1971.
Reconciliation to Budget P&L
Brand-level gross profit rolled down to EBITDA month by month. No rounding differences against the Budget P&L.
| Line item | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | FY total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (from brands) | $2.71B | $2.73B | $2.78B | $2.83B | $2.86B | $2.88B | $2.86B | $2.83B | $2.78B | $2.74B | $2.70B | $2.70B | $33.4B |
| R&D | -$706.0M | -$713.1M | -$726.3M | -$739.1M | -$748.8M | -$753.6M | -$749.8M | -$742.2M | -$729.8M | -$717.8M | -$709.4M | -$708.0M | -$8.74B |
| Selling & field SG&A | -$513.5M | -$518.6M | -$528.2M | -$537.5M | -$544.6M | -$548.1M | -$545.3M | -$539.8M | -$530.8M | -$522.1M | -$515.9M | -$514.9M | -$6.36B |
| Marketing & market access | -$224.7M | -$226.9M | -$231.1M | -$235.2M | -$238.3M | -$239.8M | -$238.6M | -$236.2M | -$232.2M | -$228.4M | -$225.7M | -$225.3M | -$2.78B |
| Distribution & logistics | -$80.2M | -$81.0M | -$82.5M | -$84.0M | -$85.1M | -$85.6M | -$85.2M | -$84.3M | -$82.9M | -$81.6M | -$80.6M | -$80.5M | -$993.6M |
| Royalties & alliances | -$96.3M | -$97.2M | -$99.0M | -$100.8M | -$102.1M | -$102.8M | -$102.2M | -$101.2M | -$99.5M | -$97.9M | -$96.7M | -$96.5M | -$1.19B |
| Corporate G&A | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$2.28M |
| Total operating expenses | -$1.62B | -$1.64B | -$1.67B | -$1.70B | -$1.72B | -$1.73B | -$1.72B | -$1.70B | -$1.68B | -$1.65B | -$1.63B | -$1.63B | -$20.1B |
| EBITDA | $1.08B | $1.09B | $1.11B | $1.13B | $1.14B | $1.15B | $1.14B | $1.13B | $1.11B | $1.09B | $1.07B | $1.07B | $13.3B |
| Rounding difference | — | — | — | — | — | — | — | — | — | — | — | — | — |
Operating cost drivers
Cost lines flex with net revenue, except corporate G&A which is budgeted as a fixed monthly amount.
R&D
% of net revenue
Large-cap pharma 18–25% of net revenue.
Selling & field SG&A
% of net revenue
12–20% depending on primary-care vs specialty mix.
Marketing & market access
% of net revenue
5–10%; higher in launch years.
Distribution & logistics
% of net revenue
1.5–3.5%.
Royalties & alliances
% of net revenue
2–6% of net revenue on partnered brands.
Corporate G&A
$ fixed per month
Set to your run-rate; step it only where a hiring or systems plan justifies it.
Budget P&L — 1971 · Base
Calculated from the drivers above. Read-only.
| Line | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | FY 1971 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross sales | $4.71B | $4.76B | $4.85B | $4.94B | $5.00B | $5.04B | $5.01B | $4.96B | $4.88B | $4.79B | $4.73B | $4.72B | $58.4B |
| Gross-to-net deductions | -$1.50B | -$1.52B | -$1.55B | -$1.58B | -$1.60B | -$1.61B | -$1.60B | -$1.59B | -$1.56B | -$1.53B | -$1.51B | -$1.51B | -$18.6B |
| Net product revenue | $3.21B | $3.24B | $3.30B | $3.36B | $3.40B | $3.43B | $3.41B | $3.37B | $3.32B | $3.26B | $3.22B | $3.22B | $39.7B |
| Cost of goods sold | -$504.1M | -$511.0M | -$521.9M | -$533.0M | -$541.6M | -$546.7M | -$545.6M | -$541.5M | -$534.5M | -$527.2M | -$522.6M | -$523.0M | -$6.35B |
| Gross profit | $2.71B | $2.73B | $2.78B | $2.83B | $2.86B | $2.88B | $2.86B | $2.83B | $2.78B | $2.74B | $2.70B | $2.70B | $33.4B |
| R&D | -$706.0M | -$713.1M | -$726.3M | -$739.1M | -$748.8M | -$753.6M | -$749.8M | -$742.2M | -$729.8M | -$717.8M | -$709.4M | -$708.0M | -$8.74B |
| Selling & field SG&A | -$513.5M | -$518.6M | -$528.2M | -$537.5M | -$544.6M | -$548.1M | -$545.3M | -$539.8M | -$530.8M | -$522.1M | -$515.9M | -$514.9M | -$6.36B |
| Marketing & market access | -$224.7M | -$226.9M | -$231.1M | -$235.2M | -$238.3M | -$239.8M | -$238.6M | -$236.2M | -$232.2M | -$228.4M | -$225.7M | -$225.3M | -$2.78B |
| Distribution & logistics | -$80.2M | -$81.0M | -$82.5M | -$84.0M | -$85.1M | -$85.6M | -$85.2M | -$84.3M | -$82.9M | -$81.6M | -$80.6M | -$80.5M | -$993.6M |
| Royalties & alliances | -$96.3M | -$97.2M | -$99.0M | -$100.8M | -$102.1M | -$102.8M | -$102.2M | -$101.2M | -$99.5M | -$97.9M | -$96.7M | -$96.5M | -$1.19B |
| Corporate G&A | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$190.0K | -$2.28M |
| EBITDA | $1.08B | $1.09B | $1.11B | $1.13B | $1.14B | $1.15B | $1.14B | $1.13B | $1.11B | $1.09B | $1.07B | $1.07B | $13.3B |
| EBITDA margin | 33.8% | 33.7% | 33.7% | 33.6% | 33.6% | 33.5% | 33.5% | 33.4% | 33.4% | 33.3% | 33.3% | 33.2% | 33.5% |