8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act Of 1934

Date of Report (Date of earliest event reported): December 21, 2005

BRISTOL-MYERS SQUIBB COMPANY

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-1136	22-079-0350
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

345 Park Avenue

New York, NY, 10154

(Address of Principal Executive Office)

Registrant’s telephone number, including area code: (212) 546-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On December 22, 2005, Bristol-Myers Squibb Company (Registrant) issued a press release announcing that it had reached on December 21, 2005, a mutually acceptable agreement with Merck & Co., Inc. to terminate the collaborative agreement for muraglitazar, the Registrant’s investigational oral medicine for the treatment of type 2 diabetes. Under the termination agreement, all the rights and obligations of the parties under the collaborative agreement, including the standstill provisions, shall have no further force or effect, except for certain limited obligations arising out of events that may have occurred prior to the termination date. The terms of the collaborative agreement were disclosed by the Registrant on Form 8-K filed on May 10, 2004. A copy of the press release is attached to this report as Exhibit 99.1.

Item 9.01 Financial Statement and Exhibits

(d) Exhibits

    99.1  Press release, dated December 22, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Bristol-Myers Squibb Company
Date: December 28, 2005
	By:	/s/ Sandra Leung
	Name:	Sandra Leung
	Title:	Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release, dated December 22, 2005

EX-99.1

Exhibit 99.1

Media:	David M. Rosen	Investors:	John Elicker
	Office: (609) 252-5675		Office: (212) 546-3775
	Pager: (866) 308-4484		john.elicker@bms.com
	david.m.rosen@bms.com

BRISTOL-MYERS SQUIBB STATEMENT ON MURAGLITAZAR, AN

INVESTIGATIONAL ORAL TREATMENT FOR TYPE 2 DIABETES

PRINCETON, NEW JERSEY (December 22, 2005) – As previously disclosed, Bristol-Myers Squibb Company (NYSE: BMY) agreed to begin discussions with Merck & Co., Inc. to terminate the collaborative agreement for muraglitazar, the company’s investigational oral medicine for the treatment of type 2 diabetes.

The companies have reached a mutually acceptable termination agreement, with all rights to muraglitazar returning to Bristol-Myers Squibb as of December 21, 2005. The termination agreement also covers the reversion to Bristol-Myers Squibb of a back-up compound to muraglitazar.

Bristol-Myers Squibb is continuing discussions with the U.S. Food and Drug Administration (FDA) and is considering a range of options including conducting additional studies or terminating further development of muraglitazar. The additional studies could take approximately five years to complete.

Bristol-Myers Squibb is a global pharmaceutical and related health care products company whose mission is to extend and enhance human life.

# # #

This press release contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 regarding a product in development that involves substantial risks and uncertainties. Such risks and uncertainties include, among other things, the uncertainty of the success of the research and development activities; decisions by regulatory authorities regarding whether and when to approve any new drug application for a product candidate that may result from the research, as well as their decisions regarding labeling and other matters that could affect the commercial potential of such product candidate; and competitive developments. A further list and description of risks and uncertainties can be found in the Bristol-Myers Squibb’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004, and in its reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.