← Filings of BMY
Table 1 after “Securities registered pursuant to Section 12(b) of the Act:”
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.10 Par Value | BMY | New York Stock Exchange |
| Celgene Contingent Value Rights | CELG RT | New York Stock Exchange |
| 2.973% Notes due 2030 | BMY/30 | New York Stock Exchange |
| 3.363% Notes due 2033 | BMY/33 | New York Stock Exchange |
| 1.750% Notes due 2035 | BMY35 | New York Stock Exchange |
| 3.857% Notes due 2038 | BMY/38 | New York Stock Exchange |
| 4.289% Notes due 2045 | BMY/45 | New York Stock Exchange |
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Table 2 after “December 31, 2025”
| PART I | | | |
| Item 1. | Business | 1 |
| | Acquisitions, Divestitures, Licensing and Other Arrangements | 2 |
| | Products, Intellectual Property and Product Exclusivity | 2 |
| | Research and Development | 8 |
| | Alliances | 14 |
| | Marketing, Distribution and Customers | 14 |
| | Competition | 15 |
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Table 3 after “The percentage of revenues by significant region/country were as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| United States | 69% | | 71% | | 69% |
| International | 29% | | 27% | | 29% |
| Other (a) | 2% | | 2% | | 2% |
| Total Revenues | $48,194 | | $48,300 | | $45,006 |
Table 4 after “We estimate the minimum market exclusivity date for each of our products for the purpose of business planning only. The length of market exc”
| Estimated Minimum Market Exclusivity Date | | |
| U.S. | EU(q) | Japan |
| Abecma (idecabtagene vicleucel) | 2036 | 2035 | 2037 |
| Abraxane (paclitaxel)(a) | ^^ | ^^ | ^^ |
| Breyanzi (lisocabtagene maraleucel)(b) | 2033 | 2033 | 2033 |
| Camzyos (mavacamten)(c) | 2036 | 2034 | 2034 |
| Cobenfy (xanomeline and trospium chloride)(d) | ^^ | ++ | ++ |
| Eliquis (apixaban)(e) | 2028 | ^^ | 2026 |
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Table 5 after “HEMATOLOGY”
| PHASE I | PHASE II | PHASE III | APPROVED INDICATIONS |
| Investigational CompoundsBCL6 LDD--LymphomaCD33-GSPT1 ADC--AMLDual Targeting BCMAxGPRC5D CAR T--RRMMHbF Activating CELMoD--Sickle Cell Diseasemezigdomide + elranatamab--RRMM | Additional IndicationsREBLOZYLª--α-Thalassemia Investigational Compoundsarlo-cel--4L+ MMgolcadomide--1L FL | Additional IndicationsOPDIVOª--1L cHLREBLOZYLª--1L NTD MDS Associated Anemia--1L TD MF Associated Anemia Investigational Compoundsarlo-cel--2-4L MMgolcadomide--2L+ FL--High Risk 1L LBCLiberdomide--2L+ MM--Post-Autologous Stem Cell Transplant Maintenance NDMMmezigdomide --2L+ MM Kd --2L+ MM Vd | ABECMA--3L+ Triple-Class Exposed RRMMBREYANZI--2L+ LBCL--3L+ CLL/SLL--3L+ FL--3L+ MCL--3L+ MZLEMPLICITI + POMALYST/IMNOVID--RRMM EMPLICITI + REVLIMID--RRMMIDHIFA--R/R AMLINREBIC--MFONUREG--Post-Induction AML Continued Treatment/MaintenanceOPDIVOª--R/R cHLPOMALYST/IMNOVID--RRMM--AIDS related Kaposi Sarcoma --HIV-negative Kaposi SarcomaREBLOZYLª--TD Beta-Thalassemia Associated Anemia--MDS RS or MDS/MPN-RS-T Adult Patients and Previously Treated with ESA --MDS Associated Anemia in ESA naïve patients who may require RBC TransfusionREVLIMID--MCL--MDS--MM--FL--MZL--R/R T-Cell LeukemiaSPRYCEL--1L CML--Acute Lymphoblastic Leukemia with Resistance or Intolerance to Prior Therapy--Refractory CML |
| PHASE I | PHASE II | PHASE III | APPROVED INDICATIONS |
| Investigational CompoundsAnti-CCR8--Solid TumorsBMS-986460--Prostate CancerBMS-986482--Solid TumorsBMS-986488--Solid TumorsBMS-986500--Solid TumorsBMS-986506--Solid TumorsBMS-986517--Solid TumorsBMS-986523--Solid TumorsBMS-986525--R/R SCLCCD40xFAP Bispecific--Solid TumorsCEACAM5-TOPO1 ADC--Solid Tumorsiza-brenª--1L NSCLC#--Metastatic NSCLC--Solid Tumors#navlimetostat (PRMT5 Inhibitor)--Solid Tumorspumitamigª--1L HCC--1L RCCRYZ101--ES-SCLC--HR+/HER2- Unresectable Metastatic Breast CancerRYZ401--Solid TumorsRYZ801--HCCWEE1 CELMoD--Solid Tumors | Additional IndicationsOPDIVO QVANTIG + YERVOYª--1L NSCLC Investigational Compoundspumitamigª --1L Microsatellite Stable CRC--1L Gastric Cancer--2L NSCLC#iza-brenª--1L TNBC--EGFR-mutated Post-TKI NSCLC--Post-IO Metastatic Urothelial Cancernavlimetostat (PRMT5 Inhibitor)--1L NSCLC--1L PDAC--2L NSCLC | Additional IndicationsKRAZATI--1L NSCLC PD-L1≥50%--1L NSCLC--2L CRCOPDIVOª--Adjuvant HCC--Peri-adjuvant MIUC Investigational CompoundsAR LDD--mCRPCatigotatug + nivolumab--1L ES-SCLCnivolumab + relatlimab HDª--1L NSCLC PD-L1≥1%pumitamigª --1L ES-SCLC#--1L NSCLC#--1L NSCLC PD-L1≥50%--1L TNBC#--Stage III NSCLCRYZ101--2L+ SSTR2+ GEP-NETs | ABRAXANE--1L Metastatic Adenocarcinoma of the Pancreas--Locally Advanced or Metastatic NSCLC--Metastatic Breast CancerAUGTYROª--ROS1+ NSCLC--NTRK-Positive Locally Advanced or Metastatic Solid TumorsKRAZATI--2L+ KRASG12C-mutated Advanced NSCLC--KRASG12C-mutated CRC after prior treatment with fluoropyrimidine-, oxaliplatin-, and irinotecan-based chemotherapyOPDIVOª--Metastatic Melanoma--1L Metastatic Gastric, Gastroesophageal Junction, and Esophageal Adenocarcinoma--1L Metastatic Esophageal--1L MIUC cis-eligible--Adjuvant Melanoma--Adjuvant Urothelial Carcinoma--Adjuvant Esophageal/Gastroesophageal--Neoadjuvant NSCLC--Perioperative NSCLC--Previously treated advanced RCC--Previously treated Gastric cancer--Previously treated Metastatic Head & Neck--Previously treated Metastatic MSI-High CRC--Previously treated Metastatic NSCLC--Previously treated Metastatic Urothelial Cancer--Previously treated Metastatic Esophageal CancerOPDIVO QVANTIG--Indicated for subcutaneous use in most previously approved adult, solid tumor Opdivo indications OPDIVOª + cabozantinib--1L Advanced RCCOPDIVOª + YERVOYª--1L Metastatic Melanoma--1L Mesothelioma--1L Metastatic NSCLC--1L Advanced RCC--1L+ MSI-High CRC--1L HCC--Previously treated HCC--1L EsophagealOPDUALAG--1L MelanomaYERVOYª--Adjuvant Melanoma--Metastatic Melanoma |
Table 7 after “The following are our registrational study readouts anticipated through 2026/2027:”
| Oncology | | Immunology | | | | |
| Asset | Indication | Trial | | Asset | Indication | Trial |
| AR LDD | mCRPC | rechARge | | Sotyktu | SjD | POETYK SjS-1 |
| Opdivo | Adjuvant HCC | CheckMate -9DX | | Sotyktu | SLE | POETYK SLE-1 |
| Opdivo | Peri-adjuvant MIUC | CA017-078 | | Sotyktu | SLE | POETYK SLE-2 |
| Krazati | 2L CRC | KRYSTAL-10* | | admilparant | IPF | ALOFT-IPF |
| Opdivo Qvantig + Yervoy | 1L NSCLC | CheckMate-1533 | | admilparant | PPF | ALOFT-PPF |
| Krazati | 2L+ NSCLC | KRYSTAL-12* | | | | |
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Table 8 after “Our significant manufacturing and R&D locations by geographic area were as follows at December 31, 2025:”
| Manufacturing | R&D | |
| United States | 4 | | 7 |
| International | 4 | | 1 |
| Total | 8 | | 8 |
Table 9 after “Listed below is information on our executive officers as of February 11, 2026. Executive officers are elected by the Board of Directors for ”
| Name and Current Position | Age | Employment History |
| Christopher Boerner, Ph.D.Chair of the Board and Chief Executive OfficerMember of the Leadership Team | 55 | 2015 to 2017 – President and Head of U.S. Commercial2017 to 2018 – President and Head, International Markets2018 to 2023 – Executive Vice President, Chief Commercialization Officer2023 to 2023 – Executive Vice President, Chief Operating Officer2023 to 2024 – Chief Executive Officer2024 to present – Chair of the Board and Chief Executive Officer |
| David V. ElkinsExecutive Vice President and Chief Financial OfficerMember of the Leadership Team | 57 | 2014 to 2017 – Group Vice President and Chief Financial Officer, Consumer and Consumer Medicines, Johnson & Johnson 2017 to 2018 – Worldwide Vice President and Chief Financial Officer, Consumer Products, Medical Development and Corporate Functions, Johnson & Johnson 2018 to 2019 – Chief Financial Officer, Celgene Corporation 2019 to present – Executive Vice President and Chief Financial Officer |
| Cari GallmanExecutive Vice President, General Counsel and Chief Policy OfficerMember of the Leadership Team | 46 | 2015 to 2018 – Senior Counsel, US Legal2018 to 2019 – Assistant General Counsel, Oncology Legal 2019 to 2021 – Vice President, Assistant General Counsel, Worldwide Oncology 2021 to 2023 – Senior Vice President, Chief Compliance Officer2023 to 2025 – Executive Vice President, Corporate Affairs2025 to present - Executive Vice President, General Counsel and Chief Policy Officer |
| Benjamin HickeyPresident, RayzeBio OrganizationMember of the Leadership Team | 51 | 2014 to 2016 – Vice President, Commercial, Immuno-Oncology2016 to 2018 – General Manager, UK & Ireland2018 to 2020 – Senior Vice President, Chief Commercial Officer, Halozyme Therapeutics2020 to 2024 – Chief Commercial Officer, Head of Business Development, Mirati Therapeutics2024 to present – President, RayzeBio Organization, Bristol-Myers Squibb Company |
| Lynelle HochPresident, Cell Therapy OrganizationMember of the Leadership Team | 53 | 2016 to 2019– Vice President, Immuno-Oncology Marketing2019 to 2021 – General Manager, Ireland & UK, Major Markets2021 to 2023 – Senior Vice President, Global Cell Therapy Franchise Lead2023 to present – President, Cell Therapy Organization |
| Phil HolzerSenior Vice President & Controller | 50 | 2015 to 2018 – Chief Audit Officer2018 to 2019 – Vice President & Head of Finance, Research & Development2019 to 2021 – Senior Vice President, Enterprise Integration Management2021 to 2024 – Senior Vice President, Finance, Tax & Treasury2024 to present – Senior Vice President & Controller |
| Adam LenkowskyExecutive Vice President, Chief Commercialization OfficerMember of the Leadership Team | 54 | 2016 to 2019 – Head of US Oncology 2019 to 2022 – Senior Vice President, General Manager of U.S. Oncology, Immunology & Cardiovascular 2022 to 2023 Senior Vice President, Head of Major Markets 2023 to present – Executive Vice President, Chief Commercialization Officer |
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| Name and Current Position | Age | Employment History |
| Hiroshi Chris Shibutani, M.D.Executive Vice President, Chief Strategy Officer Member of the Leadership Team | 62 | 2015 to 2020 – Senior Analyst, Managing Director, Biotechnology Equity Research, Cowen 2021 to 2025 – Senior Analyst, Managing Director, Pharmaceuticals & Biotechnology Equity Research, Goldman Sachs 2025 to present – Executive Vice President, Chief Strategy Officer |
| Wendy Short Bartie Executive Vice President, Corporate AffairsMember of the Leadership Team | 54 | 2021 to 2022 – Senior Vice President, U.S. Oncology2022 to 2023 – Senior Vice President, Chief of Staff to the CEO2023 to 2023 – Senior Vice President, General Manager, US Hematology and Cell Therapy2024 to 2025 – Senior Vice President, U.S. Oncology and Hematology2025 to 2025 – Senior Vice President, Oncology Commercialization2025 to present – Executive Vice President, Corporate Affairs |
Table 11 after “The following graph compares the cumulative total stockholders’ returns of our common shares with the cumulative total stockholders’ returns”
| 2021 | 2022 | | 2023 | 2024 | 2025 | | |
| Bristol Myers Squibb | $102.88 | | $122.41 | | $90.40 | | $104.69 | $104.81 |
| S&P 500 | 128.71 | | 105.40 | | 133.10 | | 166.40 | 196.16 |
| Peer Group | 123.66 | | 136.99 | | 140.81 | | 152.13 | 198.36 |
Table 12 after “The following table summarizes the surrenders of our equity securities during the three months ended December 31, 2025:”
| Period | Total Number of Shares Purchased(a) | Average Price Paid per Share(a) | | Total Number of Shares Purchased as Part of Publicly Announced Programs(b) | | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Programs(b) | |
| Dollars in millions, except per share data | | | | | | | |
| October 1 to 31, 2025 | 97,873 | | $45.82 | | | — | $5,014 |
| November 1 to 30, 2025 | 15,315 | | 46.09 | | | — | 5,014 |
| December 1 to 31, 2025 | 64,152 | | 50.30 | | | — | 5,014 |
| Three months ended December 31, 2025 | 177,340 | | | | — | | |
Table 13 after “Financial Highlights”
| Year Ended December 31, | | |
| Dollars in millions, except per share data | 2025 | 2024 | |
| Total Revenues | $48,194 | | $48,300 |
| Diluted Earnings/(Loss) Per Share | | | |
| GAAP | $3.46 | | $(4.41) |
| Non-GAAP | 6.15 | | 1.15 |
Table 14 after “The composition of the changes in revenues was as follows:”
| Year Ended December 31, | | | | | |
| Dollars in millions | 2025 | 2024 | | % Change | Foreign Exchange(b) | |
| United States | $33,279 | | $34,105 | | (2)% | — |
| International | 13,828 | | 13,199 | | 5% | 2% |
| Other revenues(a) | 1,087 | | 996 | | 9% | — |
| Total Revenues | $48,194 | | $48,300 | | —% | 1% |
Table 15 after “The activities and ending reserve balances for each significant category of GTN adjustments were as follows:”
| Dollars in millions | Charge-Backs and Cash Discounts | Medicaid and Medicare Rebates | | Other Rebates, Returns, Discounts and Adjustments | Total | |
| Balance at January 1, 2025 | $900 | | $5,385 | | $3,636 | $9,921 |
| Provision related to sales made in: | | | | | | |
| Current period | 14,069 | | 18,351 | | 9,394 | 41,814 |
| Prior period | (2) | | (342) | | (141) | (485) |
| Payments and returns | (13,251) | | (18,752) | | (8,951) | (40,954) |
| Foreign currency translation and other | 4 | | — | | 264 | 268 |
| Balance at December 31, 2025 | $1,720 | | $4,643 | | $4,202 | $10,565 |
Table 16 after “The reconciliation of gross product sales to net product sales by each significant category of GTN adjustments was as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | % Change | |
| Gross product sales | $88,085 | | $83,671 | | 5% |
| GTN Adjustments | | | | | |
| Charge-backs and cash discounts | (14,067) | | (11,510) | | 22% |
| Medicaid and Medicare rebates | (18,010) | | (16,551) | | 9% |
| Other rebates, returns, discounts and adjustments | (9,253) | | (8,832) | | 5% |
| Total GTN Adjustments | (41,329) | | (36,893) | | 12% |
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Table 17 after “Total Revenues by Product:”
| Year Ended December 31, | | | | | |
| Dollars in millions | 2025 | 2024 | | % Change | | |
| Growth Portfolio | | | | | | |
| Opdivo | $10,049 | | $9,304 | | | 8% |
| U.S. | 5,904 | | 5,350 | | | 10% |
| Non-U.S. | 4,145 | | 3,954 | | | 5% |
| Opdivo Qvantig | 238 | | — | | | N/A |
| U.S. | 205 | | — | | | N/A |
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| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | % Change | |
| Growth Portfolio (cont.) | | | | | |
| Other Growth Products(a) | 1,924 | | 1,643 | | 17% |
| U.S. | 782 | | 710 | | 10% |
| Non-U.S. | 1,142 | | 933 | | 22% |
| Total Growth Portfolio | $26,409 | | $22,563 | | 17% |
| U.S. | 17,371 | | 14,840 | | 17% |
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Table 19 after “Expenses”
| Year Ended December 31, | | | | |
| Dollar in Millions | 2025 | 2024 | | % Change | |
| Cost of products sold (a) | $13,936 | | $13,968 | | —% |
| Selling, general and administrative | 7,267 | | 8,414 | | (14)% |
| Research and development | 9,951 | | 11,159 | | (11)% |
| Acquired IPRD | 3,721 | | 13,373 | | (72)% |
| Amortization of acquired intangible assets | 3,317 | | 8,872 | | (63)% |
| Other (income)/expense, net | 674 | | 893 | | (24)% |
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Table 20 after “Acquired IPRD expenses are comprised of upfront payments, contingent milestone payments in connection with asset acquisitions or in-license ”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Karuna asset acquisition (Note 4) | $— | | $12,122 |
| BioNTech upfront fee (Note 3) | 1,500 | | — |
| Orbital asset acquisition (Note 4) | 1,379 | | — |
| Philochem upfront fee (Note 4) | 350 | | — |
| SystImmune upfront fee and milestone (Note 3) | 250 | | 800 |
| BioArctic upfront fee (Note 4) | 100 | | — |
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Table 21 after “Other (income)/expense, net changed by $219 million as discussed below.”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Interest expense | $1,891 | | $1,947 |
| Royalty income - divestitures | (1,129) | | (1,104) |
| Royalty and licensing income | (1,093) | | (736) |
| Investment income | (586) | | (478) |
| Provision for restructuring | 563 | | 635 |
| Litigation and other settlements | 434 | | 84 |
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Table 22 after “Income Taxes”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Earnings/(Loss) before income taxes | $9,328 | | $(8,379) |
| Income tax provision | 2,272 | | 554 |
| Effective tax rate | 24.4% | | (6.6)% |
| Impact of specified items | (5.6)% | | 63.4% |
| Effective tax rate excluding specified items | 18.8% | | 56.8% |
Table 23 after “Specified items were as follows:”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Inventory purchase price accounting adjustments | $51 | | $47 |
| Intangible asset impairment | 564 | | 1,839 |
| Site exit and other costs | 127 | | 133 |
| Cost of products sold | 742 | | 2,019 |
| Acquisition related charges(a) | 75 | | 372 |
| Site exit and other costs | 43 | | 50 |
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Table 24 after “The reconciliations from GAAP to Non-GAAP were as follows:”
| Year Ended December 31, | | |
| Dollars in millions, except per share data | 2025 | 2024 | |
| Net earnings/(loss) attributable to BMS | | | |
| GAAP | $7,054 | | $(8,948) |
| Specified Items | 5,491 | | 11,288 |
| Non-GAAP | $12,545 | | $2,340 |
| Weighted-average common shares outstanding – diluted – GAAP | 2,039 | | 2,027 |
| Incremental shares attributable to share-based compensation plans | — | | 5 |
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Table 25 after “Our net debt position was as follows:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Cash and cash equivalents | $10,209 | | $10,346 |
| Marketable debt securities – current | 464 | | 513 |
| Marketable debt securities – non-current | 396 | | 320 |
| Total cash, cash equivalents and marketable debt securities | 11,069 | | 11,179 |
| Short-term debt obligations | (2,261) | | (2,046) |
| Long-term debt | (42,850) | | (47,603) |
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Table 26 after “The following is a discussion of cash flow activities:”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Cash flow provided by/(used in): | | | |
| Operating activities | $14,156 | | $15,190 |
| Investing activities | (4,132) | | (21,352) |
| Financing activities | (10,348) | | 5,127 |
Table 27 after “Our R&D programs are managed on a portfolio basis from early discovery through late-stage development and include a balance of early-stage a”
| Augtyro | NSCLC and Solid Tumor | February 2025 | Announced EC approval of Augtyro as a treatment for ROS1 TKI-naïve and –pre-treated adult patients with ROS1-positive advanced NSCLC and for the treatment of adult and pediatric patients 12 years of age and older with advanced solid tumors expressing a NTRK gene fusion, and who have received a prior NTRK inhibitor, or have not received a prior NTRK inhibitor and treatment options not targeting NTRK provided limited clinical benefit, or have been exhausted. The approval is based on results from the TRIDENT-1 and CARE trials. |
| NTRK Solid Tumors | November 2025 | Announced that Japan’s Ministry of Health, Labour and Welfare approved the supplemental Japanese New Drug Application for Augtyro for the treatment of NTRK fusion-positive, advanced or recurrent solid tumors. This approval is based on the results from the global Phase I/II TRIDENT-1 study and Japan Phase I/II CARE pediatric study. | |
Table 28 after “Our R&D programs are managed on a portfolio basis from early discovery through late-stage development and include a balance of early-stage a”
| Breyanzi | FL | March 2025 | Announced EC approval of Breyanzi for the treatment of adult patients with relapsed or refractory FL after two or more lines of systemic therapy. This approval is based on results from the global, Phase II TRANSCEND FL study, the largest clinical trial to date to evaluate a CAR-T cell therapy in patients with relapsed or refractory indolent NHL, including FL. |
| MCL | November 2025 | Announced EC approval for Breyanzi for the treatment of adult patients with relapsed or refractory MCL after at least two lines of systemic therapy including a Bruton's tyrosine kinase (BTK) inhibitor. This approval is based on results from the MCL cohort of TRANSCEND NHL 001, in which Breyanzi demonstrated a high overall response rate of 82.7% and complete response rate of 71.6%, the study's primary and key secondary endpoints, respectively. | |
| MZL | December 2025 | Announced FDA approval of Breyanzi for the treatment of adult patients with relapsed or refractory MZL who have received at least two prior lines of systemic therapy. This approval of Breyanzi is based on results from the MZL cohort in the Phase II TRANSCEND FL study. | |
| MCL & MZL | July 2025 | The supplemental Japanese New Drug Application for Breyanzi was submitted to Japan's Pharmaceuticals and Medical Devices Agency for the treatment of both relapsed or refractory MCL and relapsed or refractory MZL. This submission is based on Cohort 4 of the Phase II TRANSCEND FL study and the MCL cohort of the Phase I TRANSCEND NHL study. | |
| Camzyos | nHCM | April 2025 | Announced that the Phase III ODYSSEY-HCM trial evaluating Camzyos for the treatment of adult patients with symptomatic New York Heart Association class II-III nHCM did not meet its dual primary endpoints. |
| oHCM | January 2026 | Announced positive topline results from SCOUT-HCM, a Phase III trial evaluating Camzyos in the first study of a cardiac myosin inhibitor (CMI) in adolescents (ages 12 years to <18 years) with symptomatic oHCM. The trial met its primary endpoint, demonstrating a statistically significant reduction from baseline in Valsalva left ventricular outflow tract (LVOT) gradient at Week 28 versus placebo, indicating Camzyos was effective in improving LVOT obstruction. Statistical significance was also met for multiple secondary endpoints, including those for clinically meaningful aspects of the disease. Safety results in the trial were consistent with the established safety profile of Camzyos in adults, and no new safety signals were reported in this new, younger population. The study continues with active treatment and long-term extension periods. | |
| August 2025 | Presented results from COLLIGO-HCM, a global retrospective real-world data study, at the European Society of Cardiology Congress 2025. The analysis showed that Camzyos was associated with reductions in left ventricular outflow tract (LVOT) obstruction and improvements in symptom burden in a racially diverse population of patients with symptomatic oHCM treated in an international, real-world setting. The effectiveness and safety demonstrated in COLLIGO-HCM are consistent with results from randomized, controlled clinical trials and further support the growing body of evidence for Camzyos, the first and only approved cardiac myosin inhibitor, as a standard of care for New York Heart Association (NYHA) class II-III symptomatic oHCM. | | |
| April 2025 | Announced that the FDA updated the U.S. Prescribing Information for Camzyos, simplifying treatment for patients and physicians by reducing the required echo monitoring for eligible patients in the maintenance phase and expanding patient eligibility by reducing contraindications. | | |
| March 2025 | Announced that Japan’s Ministry of Health, Labour and Welfare granted manufacturing and marketing approval for Camzyos for the treatment of adults with oHCM. This approval is based on results from the global Phase III EXPLORER-HCM study and the Japan Phase III HORIZON-HCM study. | | |
| February 2025 | In EU, following an opinion from the CHMP of the EMA, Camzyos received a label update to reduce the frequency of required echocardiography monitoring once a patient treated for oHCM is on a stable dose. | | |
| Opdivo | cHL | December 2025 | Announced that the FDA accepted and granted priority review to the sBLA for Opdivo in combination with doxorubicin, vinblastine and dacarbazine (AVD) for adult and pediatric (12 years and older) patients with previously untreated Stage III or IV classical Hodgkin Lymphoma. The FDA filing acceptance is based on the Phase III CA2098UT study. The FDA assigned a PDUFA goal date of April 8, 2026. In addition, the EMA validated the Type II variation application for Opdivo plus doxorubicin, vinblastine and dacarbazine for adults and adolescents (12 years of age and older) with previously untreated Stage III or IV cHL. Validation confirms the submission is complete and begins the EMA's centralized review procedure. |
| NSCLC | May 2025 | Announced EC approval of Opdivo, in combination with platinum-based chemotherapy as neoadjuvant treatment, followed by Opdivo as monotherapy as adjuvant treatment after surgical resection for the treatment of resectable NSCLC at high risk of recurrence in adult patients whose tumors have PD-L1 expression ≥1%. This approval is based on the results from the CheckMate -77T study, in which the trial met its primary endpoint of event-free survival and showed clinically meaningful improvements in the secondary efficacy endpoints of pathologic complete response and major pathologic response. | |
| February 2025 | Announced that the final analysis of overall survival from the Phase III CheckMate -816 study evaluating Opdivo in combination with platinum-doublet chemotherapy as a neoadjuvant treatment for adult patients with resectable NSCLC. The results showed a statistically significant and clinically meaningful improvement in the key secondary endpoint of overall survival compared to neoadjuvant chemotherapy alone. | | |
| Opdivo + Yervoy | CRC | August 2025 | Announced that Japan’s Ministry of Health Labour and Welfare approved Opdivo + Yervoy for the treatment of unresectable advanced or recurrent microsatellite instability-high colorectal cancer. This approval is based on the results from the Phase III CheckMate-8HW study. |
| April 2025 | Announced FDA approval of Opdivo + Yervoy as a first-line treatment of adult and pediatric patients 12 years and older with unresectable or metastatic microsatellite instability-high or mismatch repair deficient CRC. This approval is based on the Phase III CheckMate -8HW trial. This approval, granted more than two months ahead of the June 23, 2025 PDUFA goal date, follows the FDA's prior decision to grant the application Breakthrough Therapy Designation and Priority Review status. | | |
| HCC | June 2025 | Announced that Japan’s Ministry of Health Labour and Welfare granted approval of Opdivo + Yervoy for the treatment of unresectable HCC. This approval is based on the results from the global Phase III CheckMate -9DW trial. | |
| April 2025 | Announced FDA approval of Opdivo + Yervoy as a first-line treatment for adult patients with unresectable or metastatic HCC. This approval is based on the results from the global Phase III CheckMate -9DW trial. | | |
| March 2025 | Announced EC approval of Opdivo + Yervoy for the first-line treatment of adult patients with unresectable or advanced HCC. The approval is based on results from the CheckMate -9DW study, in which the dual immunotherapy treatment led to a statistically significant and clinically meaningful improvement in overall survival, the clinical trial's primary endpoint. | | |
| Sotyktu | Plaque Psoriasis | February 2025 | Announced new five-year results from the POETYK PSO long-term extension trial of Sotyktu treatment in adult patients with moderate-to-severe plaque psoriasis, in which the safety profile of Sotyktu remained consistent through five years with more than 5,000 patient-years of exposure in the trial, with no new safety signals identified. In patients who were treated continuously with Sotyktu, clinical response rates were maintained from Year 1 to Year 5, including Psoriasis Area and Severity Index (PASI) 75, PASI 90 and static Physician’s Global Assessment (sPGA) 0/1 (clear/almost clear). |
| PsA | October 2025 | Announced that the Phase III POETYK PsA-1 trial further confirmed the efficacy and safety of Sotyktu in adults with active PsA who were not previously treated with a biologic disease-modifying antirheumatic drug. The trial demonstrated that Sotyktu improved and maintained meaningful clinical responses, inhibition of radiographic progression and patient-reported outcomes through Week 52 in adults with active PsA. | |
| July 2025 | The FDA accepted for review the supplemental New Drug Application (sNDA) for Sotyktu for the treatment of adults with active psoriatic arthritis. The FDA assigned PDUFA goal date of March 6, 2026. In addition, China's Center for Drug Evaluation of National Medical Products Administration and Japan's Ministry of Health, Labour and Welfare accepted sNDAs for Sotyktu in the same indication. The EMA has also validated the Type II variation application to expand the indication for Sotyktu to include this disease. The regulatory applications are based on the pivotal POETYK PsA-1 and POETYK PsA-2 trials. | | |
| June 2025 | Announced positive data from the pivotal Phase III POETYK PsA-1 trial evaluating the efficacy and safety of Sotyktu in adults with active PsA. The trial met its primary endpoint, with a significantly greater proportion of Sotyktu-treated patients achieving ACR20 response (at least a 20 percent improvement in signs and symptoms of disease) after 16 weeks of treatment compared with placebo (54.2% versus 34.1%, respectively). Additionally, treatment with Sotyktu met important secondary endpoints across PsA disease activity at Week 16, demonstrating improvement across clinical measures, extra-articular manifestations and patient-reported outcomes. The overall safety profile of Sotyktu through 16 weeks of treatment was consistent with what has been reported throughout the clinical trial programs for Sotyktu, including the Phase III POETYK PsA-2 and the Phase III moderate-to-severe plaque psoriasis clinical trials. | | |
| June 2025 | The supplemental Japanese New Drug Application for Sotyktu was submitted to Japan's Pharmaceuticals and Medical Devices Agency for the treatment of adults with active PsA. This filing includes 16-week efficacy/safety data from the Phase III PsA-1 trial and 52-week efficacy/safety data from the Phase III PsA-2 trial. | | |
| March 2025 | Announced positive data from the pivotal Phase III POETYK PsA-2 trial evaluating the efficacy and safety of Sotyktu in adults with active PsA. The trial met its primary endpoint, with a significantly greater proportion of Sotyktu-treated patients achieving ACR20 response (at least a 20 percent improvement in signs and symptoms of disease) after 16 weeks of treatment compared with placebo (54.2% versus 39.4%, respectively). Additionally, treatment with Sotyktu met important secondary endpoints across PsA disease activity at Week 16, demonstrating improvement across clinical signs and symptoms, extra-articular manifestations and patient-reported outcomes. The overall safety profile of Sotyktu through 16 weeks of treatment was consistent with that established in a Phase II PsA clinical trial and Phase III moderate-to-severe plaque psoriasis clinical trials. | | |
Table 33 after “Dollars in millions, except per share data”
| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Net product sales | $46,756 | | $46,778 | | $43,778 |
| Alliance and other revenues | 1,438 | | 1,522 | | 1,228 |
| Total Revenues | 48,194 | | 48,300 | | 45,006 |
| Cost of products sold(a) | 13,936 | | 13,968 | | 10,693 |
| Selling, general and administrative | 7,267 | | 8,414 | | 7,772 |
| Research and development | 9,951 | | 11,159 | | 9,299 |
First 8 of 20 rows. The download has all of them.
Table 34 after “Dollars in millions”
| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Net earnings/(loss) | $7,055 | | $(8,933) | | $8,040 |
| Other comprehensive income/(loss), net of taxes and reclassifications to earnings: | | | | | |
| Derivatives qualifying as cash flow hedges | (340) | | 374 | | (230) |
| Pension and postretirement benefits | 82 | | 90 | | (115) |
| Marketable debt securities | 1 | | — | | 2 |
| Foreign currency translation | (29) | | (156) | | 78 |
First 8 of 12 rows. The download has all of them.
Table 35 after “Dollars in millions, except share and per share data”
| December 31, | | |
| ASSETS | 2025 | 2024 | |
| Current assets: | | | |
| Cash and cash equivalents | $10,209 | | $10,346 |
| Marketable debt securities | 464 | | 513 |
| Receivables | 11,414 | | 10,747 |
| Inventories | 2,690 | | 2,557 |
| Other current assets | 4,613 | | 5,617 |
First 8 of 39 rows. The download has all of them.
Table 36 after “Dollars in millions”
| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Cash Flows From Operating Activities: | | | | | |
| Net earnings/(loss) | $7,055 | | $(8,933) | | $8,040 |
| Adjustments to reconcile net earnings/(loss) to net cash provided by operating activities: | | | | | |
| Depreciation and amortization, net | 4,011 | | 9,600 | | 9,760 |
| Deferred income taxes | (965) | | (2,089) | | (3,288) |
| Stock-based compensation | 553 | | 507 | | 518 |
First 8 of 44 rows. The download has all of them.
Table 37 after “The following table represents the significant segment expenses regularly provided to the CEO:”
| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Research (a) | $1,341 | | $1,522 | | $1,557 |
| Drug Development (b) | 4,550 | | 4,495 | | 3,835 |
| Other (c) | 4,060 | | 5,142 | | 3,907 |
| Research and development | $9,951 | | $11,159 | | $9,299 |
Table 38 after “The Company's Acquired IPRD by type of transaction was as follows:”
| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Alliance (Note 3) | $1,750 | | $880 | | $55 |
| Acquisitions (Note 4) | 1,379 | | 12,122 | | — |
| In-license and other arrangements (Note 4) | 592 | | 371 | | 858 |
| Acquired IPRD | $3,721 | | $13,373 | | $913 |
Table 39 after “The following table summarizes the disaggregation of revenue by nature:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Net product sales | $46,756 | | $46,778 | | $43,778 |
| Alliance revenues | 447 | | 479 | | 608 |
| Other revenues | 992 | | 1,043 | | 620 |
| Total Revenues | $48,194 | | $48,300 | | $45,006 |
Table 40 after “Gross revenue to the three largest pharmaceutical wholesalers in the U.S. as a percentage of U.S. gross revenues was as follows:”
| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| McKesson Corporation | 36% | | 34% | | 33% |
| Cencora, Inc. | 29% | | 29% | | 29% |
| Cardinal Health, Inc. | 22% | | 22% | | 23% |
Table 41 after “The following table summarizes GTN adjustments:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Gross product sales | $88,085 | | $83,671 | | $73,679 |
| GTN adjustments(a) | | | | | |
| Charge-backs and cash discounts | (14,067) | | (11,510) | | (9,144) |
| Medicaid and Medicare rebates | (18,010) | | (16,551) | | (13,411) |
| Other rebates, returns, discounts and adjustments | (9,253) | | (8,832) | | (7,346) |
| Total GTN adjustments(b) | (41,329) | | (36,893) | | (29,901) |
First 8 of 9 rows. The download has all of them.
Table 42 after “The following table summarizes the disaggregation of revenue by product and region:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Growth Portfolio | | | | | |
| Opdivo | $10,049 | | $9,304 | | $9,009 |
| Opdivo Qvantig | 238 | | — | | — |
| Orencia | 3,705 | | 3,682 | | 3,601 |
| Yervoy | 2,900 | | 2,530 | | 2,238 |
| Reblozyl | 2,327 | | 1,773 | | 1,008 |
First 8 of 31 rows. The download has all of them.
Table 43 after “Selected financial information pertaining to alliances was as follows, including net product sales when BMS is the principal in the third-pa”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Revenues from alliances: | | | | | |
| Net product sales | $14,588 | | $13,587 | | $12,543 |
| Alliance revenues | 447 | | 479 | | 608 |
| Total alliance revenues | $15,035 | | $14,066 | | $13,151 |
| Payments to/(from) alliance partners: | | | | | |
| Cost of products sold | $7,181 | | $6,597 | | $6,067 |
First 8 of 12 rows. The download has all of them.
Table 44 after “Selected financial information pertaining to alliances was as follows, including net product sales when BMS is the principal in the third-pa”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Selected alliance balance sheet information: | | | |
| Receivables – from alliance partners | $198 | | $221 |
| Accounts payable – to alliance partners | 1,684 | | 1,578 |
| Deferred income from alliances(a) | 175 | | 222 |
Table 45 after “Summarized financial information related to this alliance was as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Revenues from Pfizer alliance: | | | | | |
| Net product sales | $14,328 | | $13,187 | | $12,006 |
| Alliance revenues | 115 | | 146 | | 200 |
| Total revenues | $14,443 | | $13,333 | | $12,206 |
| Payments to/(from) Pfizer: | | | | | |
| Cost of products sold – profit sharing | $6,980 | | $6,419 | | $5,833 |
First 8 of 9 rows. The download has all of them.
Table 46 after “Summarized financial information related to this alliance was as follows:”
| Selected alliance balance sheet information: | December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Receivables | $176 | | $189 |
| Accounts payable | 1,599 | | 1,463 |
| Deferred income | 95 | | 137 |
Table 47 after “Summarized financial information related to this alliance was as follows:”
| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| (Dollars in millions) | | | | | |
| Net product sales | $178 | | $158 | | $180 |
| Alliance revenues | 331 | | 333 | | 408 |
| Total Revenues | $510 | | $491 | | $588 |
Table 48 after “The following summarizes the total consideration transferred and allocated:”
| Dollars in millions | |
| Cash consideration for outstanding shares | $12,606 |
| Cash consideration for equity awards | 1,421 |
| Consideration paid | 14,027 |
| Less: Charge for unvested stock awards(a) | (289) |
| Transaction costs | 55 |
| Total consideration allocated | $13,793 |
Table 49 after “Total consideration for the acquisition consisted of the following:”
| Dollars in millions | |
| Cash consideration for outstanding shares | $3,851 |
| Cash consideration for equity awards | 296 |
| Consideration paid | 4,147 |
| Less: Unvested stock awards(a) | (274) |
| Total consideration allocated | $3,873 |
Table 50 after “Total consideration for the acquisition consisted of the following:”
| Dollars in millions | |
| Cash consideration for outstanding shares | $4,596 |
| Cash consideration for equity awards | 205 |
| Consideration paid | 4,801 |
| Plus: Fair value of CVRs | 248 |
| Less: unvested stock awards(a) | (114) |
| Total consideration allocated | $4,935 |
Table 51 after “The following table summarizes the financial impact of divestitures including royalty income, which is included in Other (income)/expense, n”
| Net Proceeds | Divestiture (Gains)/Losses | | Royalty Income | | | | | | | | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | 2025 | 2024 | | 2023 | 2025 | 2024 | | 2023 | | | |
| Diabetes business - royalties | $1,125 | | $1,051 | | $846 | | $— | | $— | | $— | | $(1,121) | $(1,097) | $(862) |
| Mature products and other | 14 | | 5 | | 12 | | 1 | | 15 | | — | | (8) | (7) | — |
| Total | $1,139 | | $1,056 | | $858 | | $1 | | $15 | | $— | | $(1,129) | $(1,104) | $(862) |
Table 52 after “* royalties, upfront licensing fees and milestones for products that have not obtained commercial approval, which are included in Other (inc”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Keytruda* royalties | $(588) | | $(546) | | $(1,186) |
| Tecentriq* royalties | (47) | | (47) | | (107) |
| Contingent milestone income | (40) | | (74) | | (91) |
| Amortization of deferred income | (48) | | (48) | | (51) |
| Other royalties and licensing income(a) | (370) | | (21) | | (53) |
| Total | $(1,093) | | $(736) | | $(1,488) |
Table 53 after “OTHER (INCOME)/EXPENSE, NET”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Interest expense | $1,891 | | $1,947 | | $1,166 |
| Royalty income - divestitures (Note 4) | (1,129) | | (1,104) | | (862) |
| Royalty and licensing income (Note 4) | (1,093) | | (736) | | (1,488) |
| Investment income | (586) | | (478) | | (449) |
| Provision for restructuring (Note 6) | 563 | | 635 | | 365 |
| Litigation and other settlements(a) | 434 | | 84 | | (390) |
First 8 of 15 rows. The download has all of them.
Table 54 after “The following provides the charges related to restructuring initiatives by type of cost:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| 2023 Restructuring Plan | $747 | | $603 | | $442 |
| Other Acquisition Plans | 179 | | 528 | | 335 |
| Total charges | $926 | | $1,131 | | $777 |
| Employee termination costs | $548 | | $623 | | $350 |
| Other termination costs | 15 | | 12 | | 15 |
| Provision for restructuring | 563 | | 635 | | 365 |
First 8 of 18 rows. The download has all of them.
Table 55 after “The following summarizes the charges and spending related to restructuring plan activities:”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Beginning balance | $297 | | $188 |
| Provision for restructuring | 563 | | 635 |
| Payments | (558) | | (520) |
| Foreign currency translation and other | 12 | | (6) |
| Ending balance | $315 | | $297 |
Table 56 after “The provision/(benefit) for income taxes consisted of:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Current: | | | | | |
| U.S.(a) | $1,699 | | $1,279 | | $2,745 |
| Non-U.S. | 1,538 | | 1,364 | | 943 |
| Total current | 3,237 | | 2,643 | | 3,688 |
| Deferred: | | | | | |
| U.S.(a) | (1,107) | | (2,185) | | (2,339) |
First 8 of 11 rows. The download has all of them.
Table 57 after “The reconciliation of the effective tax rate to the U.S. statutory Federal income tax rate in 2025 was as follows:”
| % of Earnings Before Income Taxes | |
| Dollars in millions | 2025 | |
| Earnings/(Loss) before income taxes: | | |
| U.S. | $(19) | |
| Non-U.S. | 9,347 | |
| Total | 9,328 | |
| U.S. Federal statutory rate | 1,959 | 21.0% |
| Effects of cross-border tax laws: | | |
First 8 of 29 rows. The download has all of them.
Table 58 after “The reconciliation of the effective tax rate to the U.S. statutory Federal income tax rate in 2024 and 2023 were as follows:”
| | % of Earnings Before Income Taxes | | | | |
| Dollars in millions | 2024 | 2023 | | | | |
| Earnings/(Loss) before income taxes: | | | | | | |
| U.S. | | $(14,893) | | $2,624 | | |
| Non-U.S. | | 6,514 | | 5,816 | | |
| Total | | (8,379) | | 8,440 | | |
| U.S. Federal statutory rate | | (1,759) | 21.0% | | 1,772 | 21.0% |
| Nondeductible R&D charges | | 2,538 | (30.3)% | | — | —% |
First 8 of 18 rows. The download has all of them.
Table 59 after “The components of deferred income tax assets/(liabilities) were as follows:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Deferred tax assets | | | |
| Foreign net operating loss and other carryforwards | $1,229 | | $1,521 |
| State net operating loss and credit carryforwards | 629 | | 529 |
| U.S. Federal capital loss, net operating loss and tax credit | 557 | | 695 |
| Milestone payments and license fees | 1,330 | | 999 |
| Capitalized research expenditures | 4,366 | | 3,886 |
First 8 of 21 rows. The download has all of them.
Table 60 after “Changes in the valuation allowance were as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Beginning balance | $929 | | $764 | | $873 |
| Provision | 231 | | 242 | | (39) |
| Utilization | (108) | | (182) | | (54) |
| Foreign currency translation | 14 | | (9) | | (19) |
| Acquisitions/(dispositions)/(liquidations), net | (109) | | 113 | | — |
| Non-U.S. tax rate change | 3 | | 1 | | 3 |
First 8 of 9 rows. The download has all of them.
Table 61 after “Income tax payments in 2025 were as follows:”
| Year Ended December 31, |
| Dollars in millions | 2025 |
| Federal | $2,199 |
| State | 207 |
| Foreign | |
| Switzerland | 298 |
| Ireland | 179 |
| Other foreign | 381 |
First 8 of 9 rows. The download has all of them.
Table 62 after “A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (excluding interest and penalties):”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Beginning balance | $1,428 | | $1,914 | | $1,766 |
| Gross additions to tax positions related to current year | 73 | | 68 | | 38 |
| Gross additions to tax positions related to prior years(a) | 269 | | 64 | | 145 |
| Gross additions to tax positions assumed in acquisitions | 12 | | 113 | | — |
| Gross reductions to tax positions related to prior years | (55) | | (670) | | (5) |
| Settlements | (18) | | (50) | | (30) |
First 8 of 11 rows. The download has all of them.
Table 63 after “Additional information regarding unrecognized tax benefits is as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Unrecognized tax benefits that if recognized would impact the effective tax rate | $1,356 | | $1,394 | | $1,872 |
| Accrued interest | 536 | | 507 | | 434 |
| Accrued penalties | 23 | | 19 | | 23 |
| Interest and penalties expense/(benefit) | 209 | | 89 | | 110 |
Table 64 after “The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently u”
| Jurisdictions | Tax Years |
| U.S. | 2008 to 2012, 2016 to 2018, 2021 to 2025 |
| Canada | 2012 to 2025 |
| France | 2022 to 2025 |
| Germany | 2015 to 2025 |
| Italy | 2019 to 2025 |
| Japan | 2023 to 2025 |
| UK | 2017 to 2025 |
Table 65 after “EARNINGS/(LOSS) PER SHARE”
| Year Ended December 31, | | | | |
| Amounts in millions, except per share data | 2025 | 2024 | | 2023 | |
| Net earnings/(loss) attributable to BMS | $7,054 | | $(8,948) | | $8,025 |
| Weighted-average common shares outstanding - basic | 2,034 | | 2,027 | | 2,069 |
| Incremental shares attributable to share-based compensation plans | 5 | | — | | 9 |
| Weighted-average common shares outstanding - diluted | 2,039 | | 2,027 | | 2,078 |
| Earnings/(Loss) per common share | | | | | |
| Basic | $3.47 | | $(4.41) | | $3.88 |
First 8 of 9 rows. The download has all of them.
Table 66 after “Financial assets and liabilities measured at fair value on a recurring basis are summarized below:”
| December 31, 2025 | December 31, 2024 | | | | | | | | |
| Dollars in millions | Level 1 | Level 2 | | Level 3 | Level 1 | Level 2 | | Level 3 | | |
| Cash and cash equivalents | | | | | | | | | | |
| Money market and other securities | $— | | $6,891 | | $— | | $— | | $6,559 | $— |
| Marketable debt securities | | | | | | | | | | |
| Certificates of deposit | — | | 350 | | — | | — | | 308 | — |
| Corporate debt securities | — | | 439 | | — | | — | | 486 | — |
| U.S. Treasury securities | — | | 71 | | — | | — | | 39 | — |
First 8 of 13 rows. The download has all of them.
Table 67 after “The following summarizes the carrying amount of equity investments:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Equity investments with RDFV | $552 | | $289 |
| Equity investments without RDFV | 806 | | 863 |
| Limited partnerships and other investments | 738 | | 598 |
| Total equity investments | $2,096 | | $1,750 |
Table 68 after “The following summarizes the activity related to equity investments. Changes in fair value of equity investments are included in Other (inco”
| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Equity investments with RDFV | | | | | |
| Net (gains)/losses recognized | $(291) | | $41 | | $117 |
| Less: net (gains)/losses recognized on investments sold | (4) | | 32 | | (3) |
| Net unrealized (gains)/losses recognized on investments still held | (287) | | 9 | | 120 |
| Equity investments without RDFV | | | | | |
| Upward adjustments | (15) | | (36) | | (9) |
First 8 of 13 rows. The download has all of them.
Table 69 after “The following table summarizes the fair values and the notional values of outstanding derivatives:”
| December 31, 2025 | December 31, 2024 | | | | | | | | | | | |
| Asset(a) | Liability(b) | | Asset(a) | Liability(b) | | | | | | | | |
| Dollars in millions | Notional | Fair Value | | Notional | Fair Value | Notional | | Fair Value | Notional | Fair Value | | | |
| Designated as cash flow hedges | | | | | | | | | | | | | |
| Foreign currency exchange contracts | $5,074 | | $145 | | $1,542 | | $(64) | | $6,428 | | $424 | $43 | $— |
| Cross-currency swap contracts | 584 | | 65 | | — | | — | | 584 | | 26 | 626 | (30) |
| Designated as net investment hedges | | | | | | | | | | | | | |
| Foreign currency exchange contracts | — | | — | | — | | — | | 185 | | 17 | — | — |
First 8 of 14 rows. The download has all of them.
Table 70 after “The following table summarizes the financial statement classification and amount of (gains)/losses recognized on hedges:”
| Year Ended December 31, | | | | | | | | | |
| 2025 | 2024 | | 2023 | | | | | | |
| Dollars in millions | Cost of products sold | Other (income)/expense, net | | Cost of products sold | Other (income)/expense, net | Cost of products sold | | Other (income)/expense, net | | |
| Interest rate swap contracts | $— | | $(1) | | $— | | $11 | | $— | $(5) |
| Cross-currency swap contracts | — | | (135) | | — | | 67 | | — | (65) |
| Foreign exchange contracts | 63 | | 43 | | (100) | | (98) | | (303) | (95) |
| Forward interest rate contracts | — | | (35) | | — | | (5) | | — | — |
Table 71 after “The following table summarizes the effect of derivative and non-derivative instruments designated as hedges in Other comprehensive income/(l”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Derivatives designated as cash flow hedges | | | | | |
| Foreign exchange contracts gains/(losses): | | | | | |
| Recognized in Other comprehensive income/(loss) | $(426) | | $418 | | $13 |
| Reclassified to Cost of products sold | 63 | | (100) | | (303) |
| Cross-currency swap contracts gains/(losses): | | | | | |
| Recognized in Other comprehensive income/(loss) | 85 | | (54) | | 57 |
First 8 of 20 rows. The download has all of them.
Table 72 after “Short-term debt obligations include:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Non-U.S. short-term financing obligations | $284 | | $218 |
| Current portion of Long-term debt | 1,977 | | 1,828 |
| Short-term debt obligations | $2,261 | | $2,046 |
Table 73 after “Long-term debt and the current portion of long-term debt includes:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Principal Value: | | | |
| 0.750% Notes due 2025 | $— | | $1,000 |
| 1.000% Euro Notes due 2025 | — | | 598 |
| 3.875% Notes due 2025 | — | | 229 |
| 3.200% Notes due 2026 | 1,220 | | 1,750 |
| Floating Rate Notes due 2026 (a) | 500 | | 500 |
First 8 of 53 rows. The download has all of them.
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Principal Value | $44,323 | | $48,937 |
| Adjustments to principal value: | | | |
| Fair value of interest rate swap contracts | 41 | | (10) |
| Unamortized basis adjustment from swap terminations | 60 | | 71 |
| Unamortized bond discounts and issuance costs | (347) | | (390) |
| Unamortized purchase price adjustments of Celgene debt | 751 | | 823 |
First 8 of 12 rows. The download has all of them.
Table 75 after “billion, consisting of:”
| Principal Amount (in € millions) | |
| 2.973% Notes due 2030 | € | 750 |
| 3.363% Notes due 2033 | 1,150 | |
| 3.857% Notes due 2038 | 1,150 | |
| 4.289% Notes due 2045 | 750 | |
| 4.581% Notes due 2055 | 1,200 | |
| Total | € | 5,000 |
Table 76 after “The following summarizes the debt repurchase activity:”
| Dollars in millions | 2025 |
| Principal Amount | $8,739 |
| Carrying Value | 8,712 |
| Debt redemption price | 9,068 |
| Loss on debt redemption(a) | 356 |
Table 77 after “RECEIVABLES”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Trade receivables | $11,370 | | $9,957 |
| Less charge-backs and cash discounts | (1,720) | | (900) |
| Less allowance for expected credit loss | (58) | | (45) |
| Net trade receivables | 9,592 | | 9,012 |
| Alliance, royalties, VAT and other | 1,821 | | 1,735 |
| Receivables | $11,414 | | $10,747 |
Table 78 after “Changes to the allowance for expected credit loss, charge-backs and cash discounts were as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Beginning balance | $945 | | $669 | | $697 |
| Provision | 14,089 | | 11,551 | | 9,158 |
| Utilization | (13,263) | | (11,272) | | (9,186) |
| Other | 7 | | (3) | | — |
| Ending balance | $1,779 | | $945 | | $669 |
Table 79 after “INVENTORIES”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Finished goods | $900 | | $1,257 |
| Work in process | 3,159 | | 2,549 |
| Raw and packaging materials | 281 | | 320 |
| Total inventories | $4,340 | | $4,126 |
| Inventories | $2,690 | | $2,557 |
| Other non-current assets | 1,650 | | 1,569 |
Table 80 after “PROPERTY, PLANT AND EQUIPMENT”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Land | $157 | | $161 |
| Buildings | 7,270 | | 6,581 |
| Machinery, equipment and fixtures | 3,790 | | 3,818 |
| Construction in progress | 1,619 | | 1,525 |
| Gross property, plant and equipment | 12,836 | | 12,085 |
| Less accumulated depreciation | (5,293) | | (4,949) |
First 8 of 12 rows. The download has all of them.
Table 81 after “The following table summarizes the components of lease expense:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Operating lease cost | $293 | | $290 | | $317 |
| Variable lease cost | 90 | | 74 | | 79 |
| Short-term lease cost | 18 | | 23 | | 20 |
| Sublease income | (60) | | (35) | | (11) |
| Total operating lease expense | $341 | | $352 | | $405 |
Table 82 after “Operating lease right-of-use assets and liabilities were as follows:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Other non-current assets(a) | $1,582 | | $1,224 |
| Other current liabilities | 202 | | 181 |
| Other non-current liabilities | 1,826 | | 1,370 |
| Total liabilities(a) | $2,028 | | $1,551 |
Table 83 after “Future lease payments for non-cancellable operating leases as of December 31, 2025 were as follows:”
| Dollars in millions | |
| 2026 | $271 |
| 2027 | 285 |
| 2028 | 266 |
| 2029 | 265 |
| 2030 | 238 |
| Thereafter | 1,245 |
| Total future lease payments | 2,569 |
First 8 of 10 rows. The download has all of them.
Table 84 after “Supplemental balance sheet information related to leases was as follows:”
| December 31, | | |
| 2025 | 2024 | |
| Weighted average remaining lease term | 10 years | 9 years | |
| Weighted average discount rate | 5% | | 5% |
Table 85 after “The changes in the carrying amounts in Goodwill were as follows:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Beginning balance | $21,719 | | $21,169 |
| Acquisitions (Note 4) | — | | 580 |
| Currency translation and other adjustments | 36 | | (30) |
| Ending balance | $21,754 | | $21,719 |
Table 86 after “Other intangible assets consisted of the following:”
| | | December 31, | | | | | | | | | |
| Estimated Useful Lives | | 2025 | | 2024 | | | | | | | |
| Dollars in millions | | Gross carrying amounts | | Accumulated amortization | | Other intangible assets, net | Gross carrying amounts | | Accumulated amortization | Other intangible assets, net | | |
| R&D technology | 6 years | | $1,980 | | | $(605) | | $1,375 | | $1,980 | $(275) | $1,705 |
| Acquired marketed product rights | 3 – 17 years | | 61,385 | | | (51,646) | | 9,739 | | 61,876 | (48,659) | 13,217 |
| Capitalized software | 3 – 10 years | | 1,453 | | | (1,064) | | 389 | | 1,499 | (1,099) | 400 |
| IPRD | | | 7,600 | | | — | | 7,600 | | 7,985 | — | 7,985 |
| Total | | | $72,418 | | | $(53,315) | | $19,103 | | $73,340 | $(50,033) | $23,307 |
Table 87 after “SUPPLEMENTAL FINANCIAL INFORMATION”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Income taxes | $2,920 | | $3,292 |
| Research and development | 753 | | 754 |
| Contract assets | 192 | | 385 |
| Other | 748 | | 1,186 |
| Other current assets | $4,613 | | $5,617 |
Table 88 after “SUPPLEMENTAL FINANCIAL INFORMATION”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Equity investments (Note 9) | $2,096 | | $1,736 |
| Operating leases (Note 14) | 1,582 | | 1,224 |
| Inventories (Note 12) | 1,650 | | 1,569 |
| Pension and postretirement | 330 | | 234 |
| Research and development | 250 | | 336 |
| Receivables and convertible notes | 15 | | 452 |
First 8 of 10 rows. The download has all of them.
Table 89 after “SUPPLEMENTAL FINANCIAL INFORMATION”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Rebates and discounts | $8,844 | | $9,021 |
| Income taxes | 979 | | 1,514 |
| Employee compensation and benefits | 1,561 | | 1,694 |
| Research and development | 1,434 | | 1,366 |
| Dividends | 1,283 | | 1,258 |
| Interest | 484 | | 572 |
First 8 of 12 rows. The download has all of them.
Table 90 after “SUPPLEMENTAL FINANCIAL INFORMATION”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Income taxes | $1,407 | | $1,491 |
| Pension and postretirement | 330 | | 400 |
| Operating leases (Note 14) | 1,826 | | 1,370 |
| Deferred income | 169 | | 230 |
| Deferred compensation | 487 | | 456 |
| Contingent value rights (Note 9) | 607 | | 256 |
First 8 of 10 rows. The download has all of them.
Table 91 after “The following table summarizes changes in equity during 2025, 2024 and 2023:”
| Common Stock | Capital in Excess of Par Value of Stock | | Accumulated Other Comprehensive Income/(Loss) | | Retained Earnings | | Treasury Stock | | Noncontrolling Interest | | | | |
| Dollars and shares in millions | Shares | Par Value | | | Shares | | Cost | | | | | | | |
| Balance at December 31, 2022 | 2,923 | | $292 | | | $45,165 | | | $(1,281) | | $25,503 | 825 | $(38,618) | $57 |
| Net earnings/(loss) | — | | — | | | — | | | — | | 8,025 | — | — | 14 |
| Other comprehensive income/(loss) | — | | — | | | — | | | (265) | | — | — | — | — |
| Cash dividends declared(a) | — | | — | | | — | | | — | | (4,762) | — | — | — |
| Share repurchases | — | | — | | | 105 | | | — | | — | 87 | (5,306) | — |
| Stock compensation | — | | — | | | 410 | | | — | | — | (10) | 147 | — |
First 8 of 23 rows. The download has all of them.
Table 92 after “The components of Other comprehensive income/(loss) were as follows:”
| Year Ended December 31, | | | | | | | | | | | | | | |
| 2025 | 2024 | | 2023 | | | | | | | | | | | |
| Dollars in millions | Pretax | Tax | | After Tax | Pretax | Tax | | After Tax | Pretax | Tax | | After Tax | | | |
| Derivatives qualifying as cash flow hedges: | | | | | | | | | | | | | | | |
| Recognized in other comprehensive income/(loss) | $(340) | | $73 | | $(267) | | $495 | | $(86) | | $409 | | $70 | $(12) | $58 |
| Reclassified to net earnings/(loss)(a) | (88) | | 15 | | (73) | | (33) | | (2) | | (35) | | (334) | 46 | (288) |
| Derivatives qualifying as cash flow hedges | (429) | | 89 | | (340) | | 462 | | (88) | | 374 | | (264) | 34 | (230) |
| Pension and postretirement benefits: | | | | | | | | | | | | | | | |
First 8 of 16 rows. The download has all of them.
Table 93 after “The accumulated balances related to each component of Other comprehensive income/(loss), net of taxes, were as follows:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Derivatives qualifying as cash flow hedges | $37 | | $376 |
| Pension and postretirement benefits | (566) | | (648) |
| Marketable debt securities | 3 | | 2 |
| Foreign currency translation(a) | (997) | | (968) |
| Accumulated other comprehensive income/(loss) | $(1,524) | | $(1,238) |
Table 94 after “Changes in defined benefit pension plan obligations, assets, funded status and amounts recognized in the consolidated balance sheets were as”
| Year Ended December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Benefit obligations at beginning of year | $1,945 | | $2,238 |
| Service cost—benefits earned during the year | 37 | | 33 |
| Interest cost | 66 | | 74 |
| Settlements and curtailments | (64) | | (247) |
| Actuarial (gains)/losses | (67) | | (10) |
| Benefits paid | (73) | | (58) |
First 8 of 27 rows. The download has all of them.
Table 95 after “Additional information related to pension plan was as follows:”
| December 31, | | |
| Dollars in millions | 2025 | 2024 | |
| Pension plans with projected benefit obligations in excess of plan assets: | | | |
| Projected benefit obligation | $635 | | $605 |
| Fair value of plan assets | 405 | | 353 |
| Pension plans with accumulated benefit obligations in excess of plan assets: | | | |
| Accumulated benefit obligation | 610 | | 578 |
| Fair value of plan assets | 405 | | 353 |
Table 96 after “Weighted-average assumptions used to determine defined benefit pension plan obligations were as follows:”
| December 31, | | |
| 2025 | 2024 | |
| Discount rate | 3.8% | | 3.5% |
| Rate of compensation increase | 1.5% | | 1.4% |
| Interest crediting rate | 2.5% | | 2.4% |
Table 97 after “Weighted-average actuarial assumptions used to determine defined benefit pension plan net periodic benefit cost were as follows:”
| Year Ended December 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Discount rate | 3.5% | | 3.4% | | 4.0% |
| Expected long-term return on plan assets | 4.1% | | 4.8% | | 4.1% |
| Rate of compensation increase | 1.4% | | 1.4% | | 1.2% |
| Interest crediting rate | 2.4% | | 2.5% | | 2.5% |
Table 98 after “The fair value of pension plan assets by asset category was as follows:”
| December 31, 2025 | December 31, 2024 | | | | | | | | | | | | |
| Dollars in millions | Level 1 | Level 2 | | Level 3 | | Total | Level 1 | | Level 2 | Level 3 | Total | | | |
| Plan assets | | | | | | | | | | | | | | |
| Equity securities | $1 | | $— | | | $— | | $1 | | $1 | | $— | $— | $1 |
| Equity funds | — | | 303 | | | — | | 303 | | — | | 256 | — | 256 |
| Fixed income funds | — | | 484 | | | — | | 484 | | — | | 446 | — | 446 |
| U.S. Treasury and agency securities | — | | 33 | | | — | | 33 | | — | | 41 | — | 41 |
| Insurance contracts | — | | — | | | 756 | | 756 | | — | | — | 708 | 708 |
First 8 of 13 rows. The download has all of them.
Table 99 after “Stock-based compensation expense was as follows:”
| Year Ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | | 2023 | |
| Cost of products sold | $62 | | $57 | | $51 |
| Selling, general and administrative | 224 | | 202 | | 215 |
| Research and development | 267 | | 248 | | 252 |
| Total stock-based compensation expense | $553 | | $507 | | $518 |
| Income tax benefit | $115 | | $108 | | $105 |
Table 100 after “The following table summarizes the stock compensation activity for the year ended December 31, 2025:”
| Stock Options | RSUs | | MSUs | PSUs | | | | | | | | | | | | |
| Shares in Millions | Number of Options | Weighted-Average Exercise Price of Shares | | Number of Nonvested RSUs | Weighted-Average Grant-Date Fair Value | | Number of Nonvested MSUs | | Weighted-Average Grant-Date Fair Value | Number of Nonvested PSUs | | Weighted-Average Grant-Date Fair Value | | | | | |
| Balance at January 1, 2025 | 11.1 | | $59.02 | | 20.7 | | | $53.17 | | 1.9 | | | $58.69 | | 3.7 | | $59.84 |
| Granted | — | | — | | 12.5 | | | 56.06 | | 1.1 | | | 71.38 | | 0.5 | | 62.72 |
| Released/Exercised | (1.3) | | 52.93 | | (7.9) | | | 54.96 | | (0.3) | | | 58.80 | | (0.6) | | 66.77 |
| Adjustments for actual payout | — | | — | | — | | | — | | (0.1) | | | 59.16 | | (0.4) | | 66.77 |
| Forfeited/Canceled | (3.0) | | 64.19 | | (3.8) | | | 53.95 | | (0.4) | | | 62.99 | | (0.5) | | 56.94 |
| Balance at December 31, 2025 | 6.8 | | $57.85 | | 21.5 | | | $54.07 | | 2.2 | | | $64.24 | | 2.7 | | $58.33 |
First 8 of 9 rows. The download has all of them.
Table 101 after “The following table summarizes the stock compensation activity for the year ended December 31, 2025:”
| Dollars in millions | Restricted Stock Units | Market Share Units | | Performance Share Units | |
| Unrecognized compensation cost | $820 | | $74 | | $48 |
| Expected weighted-average period in years of compensation cost to be recognized | 2.5 | 1.9 | | 1.5 | |
Table 102 after “The following table summarizes the stock compensation activity for the year ended December 31, 2025:”
| Amounts in Millions, except per share data | 2025 | 2024 | | 2023 | | |
| Weighted-average grant date fair value (per share): | | | | | | |
| RSUs | $56.06 | | $47.54 | | | $60.26 |
| MSUs | 71.38 | | 58.63 | | 57.99 | |
| PSUs | 62.72 | | 53.08 | | 63.86 | |
| Fair value of awards that vested: | | | | | | |
| RSUs | $435 | | $429 | | | $365 |
| MSUs | 18 | | 13 | | | 45 |
First 8 of 10 rows. The download has all of them.
Table 103 after “The following table summarizes significant outstanding and exercisable options at December 31, 2025:”
| Range of Exercise Prices | Number of Options (in millions) | Weighted-Average Remaining Contractual Life (in years) | | Weighted-Average Exercise Price Per Share | | Aggregate Intrinsic Value (in millions) | |
| $10 - $40 | 0.1 | | 1.7 | | $23.42 | | $2 |
| $40 - $55 | 2.7 | | 1.6 | | 50.38 | | 10 |
| $55 - $65 | 2.4 | | 1.0 | | 58.93 | | — |
| $65 + | 1.7 | | 1.3 | | 69.71 | | — |
| Outstanding | 6.8 | | 1.3 | | 57.85 | | $13 |
| Exercisable | 6.8 | | 1.3 | | 57.85 | | $13 |
Table 104 after “PART IV”
| (a) | | |
| | Page Number |
| 1 | Consolidated Financial Statements | |
| Consolidated Statements of Earnings and Comprehensive Income | 73 |
| Consolidated Balance Sheets | 74 |
| Consolidated Statements of Cash Flows | 75 |
| Notes to Consolidated Financial Statements | 76 |
| Report of Independent Registered Public Accounting Firm | 120 |
First 8 of 11 rows. The download has all of them.
Table 105 after “Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of”
| Signature | Title | Date |
| /s/ CHRISTOPHER BOERNER, Ph.D. | Chair of the Board and Chief Executive Officer | February 11, 2026 |
| (Christopher Boerner, Ph.D.) | (Principal Executive Officer) | |
| /s/ DAVID V. ELKINS | Chief Financial Officer | February 11, 2026 |
| (David V. Elkins) | (Principal Financial Officer) | |
| /s/ PHIL M. HOLZER | Senior Vice President and Corporate Controller | February 11, 2026 |
| (Phil M. Holzer) | (Principal Accounting Officer) | |
| /s/ PETER J. ARDUINI | Director | February 11, 2026 |
First 8 of 27 rows. The download has all of them.
Table 106 after “Bristol-Myers Squibb Company and its consolidated subsidiaries may be referred to as Bristol Myers Squibb, BMS, the Company, we, our or us i”
| 2025 Form 10-K | Annual Report on Form 10-K for the fiscal year ended December 31, 2025 | MDS | myelodysplastic syndromes |
| 2021 Plan | 2021 Stock Award and Incentive Plan | Merck | Merck & Co., Inc. |
| 2seventy bio | 2seventy bio, Inc. | MF | myelofibrosis |
| 340B Program | 340B Drug Pricing Program | Mirati | Mirati Therapeutics, Inc. |
| 2024 Senior Unsecured Notes | Aggregate principal amount of $13.0 billion of unsecured senior notes issued by BMS in February 2024 | MIUC | muscle-invasive urothelial carcinoma |
| AbbVie | AbbVie Inc. | MM | multiple myeloma |
| ADC | antibody-drug conjugate | MPM | Malignant Pleural Mesothelioma |
| aGVHD | acute graft-versus-host disease | MS | Multiple Sclerosis |
First 8 of 71 rows. The download has all of them.
Table 107 after “The Exhibits listed below are identified by numbers corresponding to the Exhibit Table of Item 601 of Regulation S-K. The Exhibits designate”
| Exhibit No. | Description | Page No |
| 2. | Agreement and Plan of Merger, dated as of January 2, 2019, among Bristol-Myers Squibb Company, Burgundy Merger Sub, Inc. and Celgene Corporation (incorporated herein by reference to Exhibit 2.1 to the Form 8-K dated January 2, 2019 and filed on January 4, 2019).† | ‡ |
| 3a. | Amended and Restated Certificate of Incorporation of Bristol-Myers Squibb Company, as further amended (incorporated herein by reference to Exhibit 3a to the Form 10-Q for the quarterly period ended June 30, 2024). | ‡ |
| 3b. | Bylaws of Bristol-Myers Squibb Company, as amended as of May 4, 2021 (incorporated herein by reference to Exhibit 3b to the Form 8-K dated and filed on May 4, 2021). | ‡ |
| 4a. | Description of Bristol-Myers Squibb Company’s securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 (filed herewith) | E-4-1 |
| 4b. | Indenture, dated as of June 1, 1993, between Bristol-Myers Squibb Company and JPMorgan Chase Bank (as successor trustee to The Chase Manhattan Bank (National Association)) (incorporated herein by reference to Exhibit 4a to the registration statement on Form S-3 dated April 28, 2008 and filed on April 28, 2008). | ‡ |
| 4c. | Form of 6.80% Debenture due 2026 of Bristol-Myers Squibb Company (incorporated herein by reference to Exhibit 4e to the Form 10-K for the fiscal year ended December 31, 1996). | ‡ |
| 4d. | Form of 6.875% Debenture due 2097 of Bristol-Myers Squibb Company (incorporated herein by reference to Exhibit 4f to the Form 10-Q for the quarterly period ended September 30, 1997). | ‡ |
First 8 of 20 rows. The download has all of them.
| 4q. | Form of $750,000,000 3.250% Notes due 2027 (incorporated herein by reference to Exhibit 4.3 to the Form 8-K dated and filed on February 27, 2017). | ‡ |
| 4r. | Tenth Supplemental Indenture, dated as of May 16, 2019, by and between Bristol-Myers Squibb Company and The Bank of New York Mellon, as Trustee, to the Indenture dated as of June 1, 1993 (incorporated herein by reference to Exhibit 4.1 to the Form 8-K dated and filed on May 16, 2019). | ‡ |
| 4s. | Form of $2,250,000,000 3.200% Senior Notes due 2026 (incorporated herein by reference to Exhibit 4.7 to the Form 8-K dated and filed on May 16, 2019). | ‡ |
| 4t. | Form of $4,000,000,000 3.400% Senior Notes due 2029 (incorporated herein by reference to Exhibit 4.8 to the Form 8-K dated and filed on May 16, 2019). | ‡ |
| 4u. | Form of $2,000,000,000 4.125% Senior Notes due 2039 (incorporated herein by reference to Exhibit 4.9 to the Form 8-K dated and filed on May 16, 2019). | ‡ |
| 4v. | Form of $3,750,000,000 4.250% Senior Notes due 2049 (incorporated herein by reference to Exhibit 4.10 to the Form 8-K dated and filed on May, 16, 2019). | ‡ |
| 4w. | Eleventh Supplemental Indenture, dated as of November 22, 2019, by and between Bristol-Myers Squibb Company and The Bank of New York Mellon, as trustee, to the Indenture dated as of June 1, 1993 (incorporated herein by reference to Exhibit 4.1 to the Form 8-K dated and filed on November 22, 2019). | ‡ |
| 4x. | Form of 3.450% Senior Notes due 2027 (incorporated herein by reference to Exhibit 4.13 to the Form 8-K dated and filed on November 22, 2019). | ‡ |
First 8 of 23 rows. The download has all of them.
| 4nn. | Form of $2,000,000,000 3.700% Notes due 2052 (incorporated herein by reference to Exhibit 4.4 to the Form 8-K dated and filed on March 2, 2022). | ‡ |
| 4oo. | Form of $1,000,000,000 3.900% Notes due 2062 (incorporated herein by reference to Exhibit 4.5 to the Form 8-K dated and filed on March 2, 2022). | ‡ |
| 4pp. | Fourteenth Supplemental Indenture, dated as of November 13, 2023, by and between Bristol-Myers Squibb Company and The Bank of New York Mellon, as Trustee, to the Indenture dated as of June 1, 1993 (incorporated herein by reference to Exhibit 4.1 to the Form 8-K dated and filed on November 13, 2023). | ‡ |
| 4qq. | Form of $1,000,000,000 5.750% Notes due 2031 (incorporated herein by reference to Exhibit 4.2 to the Form 8-K dated and filed on November 13, 2023). | ‡ |
| 4rr. | Form of $1,000,000,000 5.900% Notes due 2033 (incorporated herein by reference to Exhibit 4.3 to the Form 8-K dated and filed on November 13, 2023). | ‡ |
| 4ss. | Form of $1,250,000,000 6.250% Notes due 2053 (incorporated herein by reference to Exhibit 4.4 to the Form 8-K dated and filed on November 13, 2023). | ‡ |
| 4tt. | Form of $1,250,000,000 6.400% Notes due 2063 (incorporated herein by reference to Exhibit 4.5 to the Form 8-K dated and filed on November 13, 2023). | ‡ |
| 4uu. | Fifteenth Supplemental Indenture, dated as of February 22, 2024, by and between Bristol-Myers Squibb Company and The Bank of New York Mellon, as Trustee, to the Indenture dated as of June 1, 1993 (incorporated herein by reference to Exhibit 4.1 to the Form 8-K dated and filed on February 22, 2024). | ‡ |
First 8 of 22 rows. The download has all of them.
| 4jjj. | Assignment, Assumption, and Amendment Agreement, dated as of November 20, 2019, among Bristol-Myers Squibb Company, Celgene Corporation, American Stock Transfer & Trust Company, LLC and Equiniti Trust Company (incorporated herein by reference to Exhibit 4.2 to the Form 8-K dated and filed on November 20, 2019). | ‡ |
| ‡‡10a. | SEC Consent Order (incorporated herein by reference to Exhibit 10s to the Form 10-Q for the quarterly period ended September 30, 2004). | ‡ |
| ‡‡10b. | Amended and Restated Co-Development and Co-Promotion Agreement (Apixaban) by and between Bristol-Myers Squibb Company and Pfizer, Inc. dated April 26, 2007 as amended and restated as of August 23, 2007 (incorporated herein by reference to Exhibit 10c to the Form 10-Q for the quarterly period ended June 30, 2016).† | ‡ |
| ‡‡10c. | Second Amendment to Amended and Restated Co-Development and Co-Promotion Agreement (Apixaban) by and between Bristol-Myers Squibb Company and Pfizer, Inc. dated as of March 15, 2012 (incorporated herein by reference to Exhibit 10d to the Form 10-Q for the quarterly period ended June 30, 2016).† | ‡ |
| ‡‡10d. | Fourth Amendment to Amended and Restated Co-Development and Co-Promotion Agreement (Apixaban) by and between Bristol-Myers Squibb Company and Pfizer, Inc. dated as of May 18, 2015 (incorporated herein by reference to Exhibit 10e to the Form 10-Q for the quarterly period ended June 30, 2016).† | ‡ |
| ‡‡10e. | Bristol-Myers Squibb Company 2012 Stock Award and Incentive Plan, effective as of May 1, 2012 (incorporated herein by reference to Exhibit B to the 2012 Proxy Statement dated March 20, 2012). | ‡ |
| ‡‡10f. | Form of 2023-2025 Performance Share Units Award Agreement under the 2021 Equity Incentive Plan (incorporated herein by reference to Exhibit 10i to the Form 10-K for the fiscal year ended December 31, 2022) | ‡ |
| ‡‡10g. | Form of 2024-2026 Performance Share Units Award Agreement under the 2021 Equity Incentive Plan (incorporated herein by reference to Exhibit 10i to the Form 10-K for the fiscal year ended December 31, 2023). | ‡ |
First 8 of 18 rows. The download has all of them.
| ‡‡10r. | Form of 2025 Performance Share Units Award Agreement under the 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit 10a to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| ‡‡10s. | Form of 2025 Market Share Units Award Agreement under the 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit 10b to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| ‡‡10t. | Form of 2025 Restricted Stock Units Award Agreement with three-year, four-year, or five-year prorated vesting under the 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit 10c to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| ‡‡10u. | Form of 2025 Restricted Stock Units Award Agreement with three-year cliff vesting under the 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit 10d to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| ‡‡10v. | Form of 2025 Restricted Stock Units Award Agreement with two-year cliff vesting with a one-year post-vest holding period under the 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit 10e to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| ‡‡10w. | Form of 2025 Restricted Stock Units Award Agreement with one-year cliff vesting with a two-year post-vest holding period under the 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit 10f to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| ‡‡10x. | Bristol-Myers Squibb Company Performance Incentive Plan, as amended (as adopted, incorporated herein by reference to Exhibit 2 to the Form 10-K for the fiscal year ended December 31, 1978; as amended as of January 8, 1990, incorporated herein by reference to Exhibit 19b to the Form 10-K for the fiscal year ended December 31, 1990; as amended on April 2, 1991, incorporated herein by reference to Exhibit 19b to the Form 10-K for the fiscal year ended December 31, 1991; as amended effective January 1, 1994, incorporated herein by reference to Exhibit 10d to the Form 10-K for the fiscal year ended December 31, 1993; and as amended effective January 1, 1994, incorporated herein by reference to Exhibit 10d to the Form 10-K for the fiscal year ended December 31, 1994). | ‡ |
| ‡‡10y. | Bristol-Myers Squibb Company Executive Performance Incentive Plan effective January 1, 1997 (incorporated herein by reference to Exhibit 10b to the Form 10-K for the fiscal year ended December 31, 1996). | ‡ |
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| ‡‡10hh. | Squibb Corporation Deferral Plan for Fees of Outside Directors, as amended (as adopted, incorporated herein by reference to Exhibit 10e Squibb Corporation 1991 Form 10-K for the fiscal year ended December 31, 1987, File No. 1-5514; as amended effective December 31, 1991 incorporated herein by reference to Exhibit 10m to the Form 10-K for the fiscal year ended December 31, 1992). | ‡ |
| ‡‡10ii. | Bristol-Myers Squibb Company 2017 Stock Incentive Plan (incorporated herein by reference to Exhibit 99.1 to the registration statement on Form S-8 filed on November 25, 2019). | ‡ |
| ‡‡10jj. | Bristol-Myers Squibb Company 2014 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.2 to the registration statement on Form S-8 filed on November 25, 2019). | ‡ |
| ‡‡10kk. | Bristol-Myers Squibb Company 2021 Stock Award and Incentive Plan (incorporated herein by reference to Exhibit B to Bristol-Myers Squibb Company’s Definitive Proxy Statement filed on March 25, 2021) | ‡ |
| ‡‡10ll. | Bristol-Myers Squibb Company Severance Benefits Plan (incorporated herein by reference to Exhibit 10g to the Form 10-Q for the quarterly period ended March 31, 2025). | ‡ |
| 19. | Standard Operating Procedure BMS-SOP-5k: Securities Trading (incorporated herein by reference to Exhibit 19 to the Form 10-K for the fiscal year ended December 31, 2023). | ‡ |
| 21. | Subsidiaries of the Registrant (filed herewith). | E-21-1 |
| 22. | Subsidiary Issuers of Guarantee Securities (filed herewith) | E-22-1 |
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