Exhibit 99.2

BRISTOL-MYERS SQUIBB COMPANY

NET SALES FROM CONTINUING OPERATIONS

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2004																					2005																					% Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			Qtr vs. Qtr		YTD vs. YTD
Net Sales
Pharmaceuticals	$	3,710		$	3,856		$	7,566		$	3,848		$	11,414		$	4,150		$	15,564		$	3,578		$	3,886		$	7,464		$	3,778		$	11,242		$	4,012		$	15,254		-3	%	-2	%
US Pharmaceuticals		1,926			2,048			3,974			2,135			6,109			2,242			8,351			1,767			2,084			3,851			2,069			5,920			2,220			8,140		-1	%	-3	%
Primary Care		1,381			1,419			2,800			1,496			4,296			1,721			6,017			1,258			1,539			2,797			1,486			4,283			1,653			5,936		-4	%	-1	%
Oncology/Virology		432			510			942			487			1,429			351			1,780			348			345			693			370			1,063			391			1,454		11	%	-18	%
Neuroscience		113			119			232			152			384			170			554			161			200			361			213			574			176			750		4	%	35	%
Latin America/Canada		251			257			508			246			754			287			1,041			258			306			564			285			849			325			1,174		13	%	13	%
Europe and Middle East Medicines		1,189			1,185			2,374			1,128			3,502			1,219			4,721			1,201			1,112			2,313			1,030			3,343			1,053			4,396		-14	%	-7	%
Asia/Pacific Medicines		287			318			605			297			902			354			1,256			299			329			628			342			970			354			1,324		—		5	%
Nutritionals		502			510			1,012			484			1,496			505			2,001			526			548			1,074			547			1,621			584			2,205		16	%	10	%
Related Healthcare		414			453			867			446			1,313			502			1,815			428			455			883			442			1,325			423			1,748		-16	%	-4	%
ConvaTec		217			234			451			237			688			266			954			228			247			475			250			725			267			992		—		4	%
Medical Imaging		139			151			290			145			435			154			589			145			151			296			150			446			156			602		1	%	2	%
Consumer Medicines		58			68			126			64			190			82			272			55			57			112			42			154			—			154		-100	%	-43	%
Total Company	$	4,626		$	4,819		$	9,445		$	4,778		$	14,223		$	5,157		$	19,380		$	4,532		$	4,889		$	9,421		$	4,767		$	14,188		$	5,019		$	19,207		-3	%	-1	%
	2004																					2005																					Basis Point Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			Qtr vs. Qtr		YTD vs. YTD
% of Total Sales
Pharmaceuticals		80.2	%		80.0	%		80.1	%		80.6	%		80.3	%		80.5	%		80.3	%		79.0	%		79.5	%		79.2	%		79.3	%		79.2	%		79.9	%		79.4	%	(60	)	(90	)
US Pharmaceuticals		41.6	%		42.5	%		42.1	%		44.7	%		43.0	%		43.5	%		43.1	%		39.0	%		42.6	%		40.9	%		43.4	%		41.7	%		44.2	%		42.4	%	70		(70	)
Primary Care		29.9	%		29.4	%		29.6	%		31.3	%		30.2	%		33.4	%		31.0	%		27.8	%		31.4	%		29.7	%		31.2	%		30.2	%		32.9	%		30.9	%	(50	)	(10	)
Oncology/Virology		9.3	%		10.6	%		10.0	%		10.2	%		10.1	%		6.8	%		9.2	%		7.7	%		7.1	%		7.4	%		7.8	%		7.5	%		7.8	%		7.6	%	100		(160	)
Neuroscience		2.4	%		2.5	%		2.5	%		3.2	%		2.7	%		3.3	%		2.9	%		3.5	%		4.1	%		3.8	%		4.4	%		4.0	%		3.5	%		3.9	%	20		100
Latin America/Canada		5.4	%		5.3	%		5.4	%		5.1	%		5.3	%		5.6	%		5.4	%		5.7	%		6.3	%		6.0	%		6.0	%		6.0	%		6.5	%		6.1	%	90		70
Europe and Middle East Medicines		25.7	%		24.6	%		25.1	%		23.6	%		24.6	%		23.6	%		24.4	%		26.5	%		22.7	%		24.6	%		21.6	%		23.6	%		21.0	%		22.9	%	(260	)	(150	)
Asia/Pacific Medicines		6.2	%		6.6	%		6.4	%		6.2	%		6.3	%		6.9	%		6.5	%		6.6	%		6.7	%		6.7	%		7.2	%		6.8	%		7.1	%		6.9	%	20		40
Nutritionals		10.9	%		10.6	%		10.7	%		10.1	%		10.5	%		9.8	%		10.3	%		11.6	%		11.2	%		11.4	%		11.5	%		11.4	%		11.7	%		11.5	%	190		120
Related Healthcare		8.9	%		9.4	%		9.2	%		9.3	%		9.2	%		9.7	%		9.4	%		9.4	%		9.3	%		9.4	%		9.2	%		9.4	%		8.4	%		9.1	%	(130	)	(30	)
ConvaTec		4.7	%		4.9	%		4.8	%		5.0	%		4.8	%		5.1	%		4.9	%		5.0	%		5.0	%		5.1	%		5.2	%		5.1	%		5.3	%		5.2	%	20		30
Medical Imaging		3.0	%		3.1	%		3.1	%		3.0	%		3.1	%		3.0	%		3.1	%		3.2	%		3.1	%		3.1	%		3.1	%		3.2	%		3.1	%		3.1	%	10		—
Consumer Medicines		1.2	%		1.4	%		1.3	%		1.3	%		1.3	%		1.6	%		1.4	%		1.2	%		1.2	%		1.2	%		0.9	%		1.1	%		—			0.8	%	(160	)	(60	)
Total Company		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

BRISTOL-MYERS SQUIBB COMPANY

SEGMENT SALES AND COMPOSITION OF CHANGE IN SALES FOR CONTINUING OPERATIONS

FOR THE PERIOD ENDED DECEMBER 31, 2005

(DOLLARS IN MILLIONS)

	WW Medicines			Nutritionals			Convatec			Medical Imaging			Consumer Medicines			Continuing Operations
QUARTER-TO-DATE
Price Increases(Decreases)		1	%		1	%		-2	%		1	%		—			1	%
Foreign Exchange		-2	%		1	%		-4	%		—			—			-2	%
Volume		-2	%		14	%		6	%		—			-100	%		-2	%
Total Change		-3	%		16	%		—			1	%		-100	%		-3	%
Total 2005 Period to Date Sales	$	4,012		$	584		$	267		$	156			—		$	5,019
Total 2004 Period to Date Sales	$	4,150		$	505		$	266		$	154		$	82		$	5,157
	WW Medicines			Nutritionals			Convatec			Medical Imaging			Consumer Medicines			Continuing Operations
YEAR-TO-DATE
Price Increases(Decreases)		—			2	%		-2	%		—			—			—
Foreign Exchange		1	%		1	%		1	%		—			—			1	%
Volume		-3	%		7	%		5	%		2	%		-43	%		-2	%
Total Change		-2	%		10	%		4	%		2	%		-43	%		-1	%
Total 2005 Period to Date Sales	$	15,254		$	2,205		$	992		$	602		$	154		$	19,207
Total 2004 Period to Date Sales	$	15,564		$	2,001		$	954		$	589		$	272		$	19,380

BRISTOL-MYERS SQUIBB COMPANY

CONSOLIDATED STATEMENT OF EARNINGS

CONTINUING OPERATIONS

($ in Millions, except per share amounts)

	2004																					2005																					% Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			Qtr vs. Qtr		YTD vs. YTD
Net Sales	$	4,626		$	4,819		$	9,445		$	4,778		$	14,223		$	5,157		$	19,380		$	4,532		$	4,889		$	9,421		$	4,767		$	14,188		$	5,019		$	19,207		-3	%	-1	%
Cost of products sold		1,357			1,500			2,857			1,467			4,324			1,665			5,989			1,367			1,483			2,850			1,483			4,333			1,595			5,928		-4	%	-1	%
Marketing, selling, and administrative		1,226			1,201			2,427			1,199			3,626			1,390			5,016			1,183			1,268			2,451			1,286			3,737			1,369			5,106		-2	%	2	%
Advertising and promotion		316			346			662			325			987			424			1,411			318			365			683			349			1,032			444			1,476		5	%	5	%
Research and development		583			625			1,208			615			1,823			677			2,500			653			649			1,302			669			1,971			775			2,746		14	%	10	%
Acquired in-process R&D		—			62			62			1			63			—			63			—			—			—			—			—			—			—		—		-100	%
Provision for restructuring		12			6			18			57			75			29			104			3			2			5			(5	)		—			32			32		10	%	-69	%
Litigation charges, net		—			379			379			25			404			16			420			124			(26	)		98			(26	)		72			197			269		*		-36	%
Gain on sale of businesses		(295	)		(18	)		(313	)		(3	)		(316	)		(4	)		(320	)		—			—			—			(569	)		(569	)		—			(569	)	100	%	-78	%
Equity in net income from affiliates, net		(75	)		(59	)		(134	)		(70	)		(204	)		(69	)		(273	)		(69	)		(87	)		(156	)		(84	)		(240	)		(94	)		(334	)	-36	%	-22	%
Other (income) /expense, net		38			8			46			16			62			(10	)		52			25			105			130			38			168			(131	)		37		*		-29	%
Total expenses		3,162			4,050			7,212			3,632			10,844			4,118			14,962			3,604			3,759			7,363			3,141			10,504			4,187			14,691		2	%	-2	%
Earnings from Continuing Operations Before Minority Interest and Income Taxes		1,464			769			2,233			1,146			3,379			1,039			4,418			928			1,130			2,058			1,626			3,684			832			4,516		-20	%	2	%
Provision for income taxes		396			118			514			239			753			766			1,519			268			(21	)		247			507			754			178			932		-77	%	-39	%
Minority Interest, Net		107			128			235			152			387			134			521			122			160			282			155			437			155			592		16	%	14	%
Earnings from Continuing Operations	$	961		$	523		$	1,484		$	755		$	2,239		$	139		$	2,378		$	538		$	991		$	1,529		$	964		$	2,493		$	499		$	2,992		*		26	%
Interest expense on conversion of convertible debt bonds, net of tax		1			1			2			2			4			3			7			4			5			9			6			15			7			22
Earnings from continuing operations used for diluted earnings per common share calculation	$	962		$	524		$	1,486		$	757		$	2,243		$	142		$	2,385		$	542		$	996		$	1,538		$	970		$	2,508		$	506		$	3,014
Diluted Earnings per Common Share Continuing Operations**	$	0.49		$	0.27		$	0.76		$	0.38		$	1.14		$	0.07		$	1.21		$	0.27		$	0.50		$	0.78		$	0.49		$	1.27		$	0.26		$	1.52		*		26	%
Average Common Shares Outstanding - Diluted		1,976			1,976			1,976			1,975			1,975			1,976			1,976			1,981			1,984			1,982			1,984			1,983			1,983			1,983		—		—
Dividends declared per common share	$	0.28		$	0.28		$	0.56		$	0.28		$	0.84		$	0.28		$	1.12		$	0.28		$	0.28		$	0.56		$	0.28		$	0.84		$	0.28		$	1.12		—		—
	2004																					2005																					Basis Point Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			Qtr vs. Qtr		YTD vs. YTD
% of Net Sales
Gross Margin		70.7	%		68.9	%		69.8	%		69.3	%		69.6	%		67.7	%		69.1	%		69.8	%		69.7	%		69.7	%		68.9	%		69.5	%		68.2	%		69.1	%	50		—
Cost of products sold		29.3	%		31.1	%		30.2	%		30.7	%		30.4	%		32.3	%		30.9	%		30.2	%		30.3	%		30.3	%		31.1	%		30.5	%		31.8	%		30.9	%	(50	)	—
Marketing, selling, and admin		26.5	%		24.9	%		25.7	%		25.1	%		25.5	%		27.0	%		25.9	%		26.1	%		25.9	%		26.0	%		27.0	%		26.3	%		27.3	%		26.6	%	30		70
Advertising and promotion		6.8	%		7.2	%		7.0	%		6.8	%		6.9	%		8.2	%		7.3	%		7.0	%		7.5	%		7.2	%		7.3	%		7.3	%		8.8	%		7.7	%	60		40
Research and development		12.6	%		13.0	%		12.8	%		12.9	%		12.8	%		13.1	%		12.9	%		14.4	%		13.3	%		13.8	%		14.0	%		13.9	%		15.4	%		14.3	%	230		140
Total expenses		68.4	%		84.0	%		76.4	%		76.0	%		76.2	%		79.9	%		77.2	%		79.5	%		76.9	%		78.2	%		65.9	%		74.0	%		83.4	%		76.5	%	350		(70	)
Earnings from Continuing Operations Before Minority Interest and Provision for Income Taxes		31.6	%		16.0	%		23.6	%		24.0	%		23.8	%		20.1	%		22.8	%		20.5	%		23.1	%		21.8	%		34.1	%		26.0	%		16.6	%		23.5	%	(350	)	70
Earnings from Continuing Operations		20.8	%		10.9	%		15.7	%		15.8	%		15.7	%		2.7	%		12.3	%		11.9	%		20.3	%		16.2	%		20.2	%		17.6	%		9.9	%		15.6	%	720		330
Other Ratios
Effective Tax Rate		27.0	%		15.3	%		23.0	%		20.9	%		22.3	%		73.7	%		34.4	%		28.9	%		-1.9	%		12.0	%		31.2	%		20.5	%		21.4	%		20.6	%
	2004																					2005																					% Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			Qtr vs. Qtr		YTD vs. YTD
Other (Income) /Expense, net
Interest expense	$	69		$	70		$	139		$	80		$	219		$	91		$	310		$	97		$	73		$	170		$	79		$	249		$	100		$	349		10	%	13	%
Interest income		(17	)		(21	)		(38	)		(29	)		(67	)		(38	)		(105	)		(45	)		(23	)		(68	)		(28	)		(96	)		(52	)		(148	)	-37	%	-41	%
Foreign exchange		17			38			55			(20	)		35			(30	)		5			12			35			47			—			47			11			58		137	%	*
Other, net		(31	)		(79	)		(110	)		(15	)		(125	)		(33	)		(158	)		(39	)		20			(19	)		(13	)		(32	)		(190	)		(222	)	*		-41	%
	$	38		$	8		$	46		$	16		$	62		$	(10	)	$	52		$	25		$	105		$	130		$	38		$	168		$	(131	)	$	37		*		-29	%

* in excess of +/- 200%

** amounts may not calculate due to rounding differences between continuing and discontinued operations.

BRISTOL-MYERS SQUIBB COMPANY

WORLDWIDE NET SALES FROM CONTINUING OPERATIONS BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2004														2005														% Change
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		Qtr vs. Qtr		YTD vs. YTD
Total Company	$	4,626	$	4,819	$	9,445	$	4,778	$	14,223	$	5,157	$	19,380	$	4,532	$	4,889	$	9,421	$	4,767	$	14,188	$	5,019	$	19,207	-3	%	-1	%
PHARMACEUTICALS		3,710		3,856		7,566		3,848		11,414		4,150		15,564		3,578		3,886		7,464		3,778		11,242		4,012		15,254	-3	%	-2	%
Cardiovascular		1,748		1,891		3,639		1,951		5,590		2,150		7,740		1,712		2,031		3,743		1,935		5,678		2,090		7,768	-3	%	—
Plavix		697		769		1,466		902		2,368		959		3,327		814		968		1,782		980		2,762		1,061		3,823	11	%	15	%
Pravachol		671		656		1,327		598		1,925		710		2,635		520		625		1,145		527		1,672		584		2,256	-18	%	-14	%
Avapro/ Avalide		197		233		430		241		671		259		930		196		258		454		251		705		277		982	7	%	6	%
Coumadin		37		77		114		65		179		76		255		49		50		99		57		156		56		212	-26	%	-17	%
Monopril		65		72		137		69		206		68		274		59		54		113		49		162		46		208	-32	%	-24	%
Virology		343		385		728		399		1,127		454		1,581		430		452		882		438		1,320		445		1,765	-2	%	12	%
Reyataz		75		85		160		106		266		148		414		149		183		332		176		508		188		696	27	%	68	%
Sustiva		139		153		292		157		449		172		621		173		167		340		170		510		170		680	-1	%	10	%
Zerit		58		78		136		69		205		67		272		59		59		118		51		169		47		216	-30	%	-21	%
Videx/ Videx EC		71		69		140		67		207		67		274		49		43		92		41		133		41		174	-39	%	-36	%
Infectious Diseases		306		294		600		277		877		353		1,230		306		278		584		251		835		303		1,138	-14	%	-7	%
Cefzil		72		55		127		54		181		89		270		82		54		136		48		184		75		259	-16	%	-4	%
Baraclude		—		—		—		—		—		—		—		—		5		5		2		7		5		12	—		—
Oncology		543		619		1,162		566		1,728		427		2,155		387		371		758		380		1,138		395		1,533	-7	%	-29	%
Taxol		243		249		492		243		735		256		991		205		186		391		175		566		181		747	-29	%	-25	%
Erbitux		17		72		89		84		173		88		261		87		98		185		107		292		121		413	38	%	58	%
Paraplatin		228		241		469		177		646		27		673		44		33		77		42		119		38		157	41	%	-77	%
Affective (Psychiatric) Disorders		158		166		324		210		534		239		773		232		284		516		306		822		267		1,089	12	%	41	%
Abilify**		115		122		237		165		402		191		593		188		240		428		260		688		224		912	17	%	54	%
Metabolics		161		79		240		43		283		53		336		43		51		94		43		137		35		172	-34	%	-49	%
Glucophage franchise		161		79		240		43		283		53		336		43		51		94		43		137		35		172	-34	%	-49	%
Other Pharmaceuticals
Efferalgan		78		59		137		61		198		76		274		88		55		143		66		209		74		283	-3	%	3	%
NUTRITIONALS		502		510		1,012		484		1,496		505		2,001		526		548		1,074		547		1,621		584		2,205	16	%	10	%
Enfamil		208		224		432		203		635		224		859		235		250		485		230		715		277		992	24	%	15	%
RELATED HEALTHCARE		414		453		867		446		1,313		502		1,815		428		455		883		442		1,325		423		1,748	-16	%	-4	%
CONVATEC		217		234		451		237		688		266		954		228		247		475		250		725		267		992	—		4	%
Ostomy		127		137		264		135		399		152		551		127		139		266		139		405		145		550	-5	%	—
Wound Therapeutics		87		94		181		99		280		111		391		97		103		200		104		304		112		416	1	%	6	%
MEDICAL IMAGING		139		151		290		145		435		154		589		145		151		296		150		446		156		602	1	%	2	%
Cardiolite		92		105		197		101		298		108		406		102		108		210		106		316		100		416	-7	%	2	%
CONSUMER MEDICINES		58		68		126		64		190		82		272		55		57		112		42		154		—		154	-100	%	-43	%

** Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

*** In excess of +/- 200%

BRISTOL-MYERS SQUIBB COMPANY

DOMESTIC* NET SALES FROM CONTINUING OPERATIONS BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

																																				% Change in U.S. Total Prescription****
	2004																2005															% Change				NPA				NGPS
	1st Qtr			2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr			Year		1st Qtr		2nd Qtr			6 Months		3rd Qtr		9 Months		4th Qtr		Year		Qtr vs. Qtr		YTD vs. YTD		Qtr vs. Qtr		YTD vs. YTD		Qtr vs. Qtr		YTD vs. YTD
Total Company	$	2,508		$	2,662	$	5,170	$	2,633	$	7,803	$	2,810		$	10,613	$	2,310	$	2,668		$	4,978	$	2,638	$	7,616	$	2,845	$	10,461	1	%	-1	%
PHARMACEUTICALS		1,966			2,071		4,037		2,154		6,191		2,255			8,446		1,777		2,097			3,874		2,082		5,956		2,234		8,190	-1	%	-3	%
Cardiovascular		1,074			1,207		2,281		1,320		3,601		1,482			5,083		1,080		1,377			2,457		1,328		3,785		1,496		5,281	1	%	4	%
Plavix		585			651		1,236		781		2,017		816			2,833		673		823			1,496		833		2,329		906		3,235	11	%	14	%	10	%	13	%	9	%	13	%
Pravachol		343			326		669		318		987		433			1,420		258		353			611		297		908		366		1,274	-15	%	-10	%	-19	%	-17	%	-18	%	-16	%
Avapro/ Avalide		116			144		260		148		408		154			562		102		157			259		147		406		168		574	9	%	2	%	7	%	11	%	6	%	12	%
Coumadin		31			70		101		58		159		69			228		42		42			84		49		133		50		183	-28	%	-20	%	-23	%	-19	%	-26	%	-20	%
Monopril		(1	)		13		12		13		25		9			34		3		2			5		1		6		3		9	-67	%	-74	%	-57	%	-61	%	-61	%	-60	%
Virology		187			218		405		231		636		258			894		231		226			457		237		694		240		934	-7	%	4	%
Reyataz		66			65		131		75		206		99			305		92		98			190		105		295		110		405	11	%	33	%	25	%	39	%	25	%	37	%
Sustiva		76			90		166		95		261		103			364		103		97			200		101		301		102		403	-1	%	11	%	5	%	5	%	6	%	8	%
Zerit		16			38		54		34		88		31			119		26		26			52		24		76		21		97	-32	%	-18	%	-32	%	-31	%	-31	%	-30	%
Videx/ Videx EC		29			25		54		27		81		25			106		10		5			15		7		22		7		29	-72	%	-73	%	-75	%	-65	%	-76	%	-65	%
Infectious Diseases		78			62		140		66		206		105			311		92		62			154		55		209		79		288	-25	%	-7	%
Cefzil		42			29		71		30		101		60			161		50		30			80		27		107		46		153	-23	%	-5	%	-15	%	-10	%	-17	%	-11	%
Baraclude		—			—		—		—		—		—			—		—		5			5		2		7		4		11	—		—		N/A		N/A		N/A		N/A
Oncology		240			290		530		255		785		92			877		115		112			227		131		358		144		502	57	%	-43	%
Taxol		14			1		15		9		24		7			31		4		4			8		4		12		5		17	-29	%	-45	%	N/A		N/A		N/A		N/A
Erbitux		17			72		89		83		172		88			260		87		97			184		106		290		121		411	38	%	58	%	N/A		N/A		N/A		N/A
Paraplatin		198			206		404		145		549		(12	)		537		15		(1	)		14		9		23		5		28	142	%	-95	%	N/A		N/A		N/A		N/A
Affective (Psychiatric) Disorders		117			121		238		157		395		180			575		167		206			373		221		594		183		777	2	%	35	%
Abilify**		113			119		232		152		384		170			554		161		200			361		214		575		175		750	3	%	35	%	30	%	42	%	29	%	40	%
Metabolics		155			73		228		39		267		48			315		39		44			83		38		121		29		150	-40	%	-52	%
Glucophage franchise		155			73		228		39		267		48			315		39		44			83		38		121		29		150	-40	%	-52	%	-41	%	-63	%	-41	%	-62	%
Other Pharmaceuticals
Efferalgan		—			—		—		—		—		—			—		—		—			—		—		—		—		—	—		—		N/A		N/A		N/A		N/A
NUTRITIONALS		256			255		511		230		741		250			991		255		267			522		266		788		282		1,070	13	%	8	%
Enfamil		144			158		302		137		439		157			596		162		171			333		168		501		184		685	17	%	15	%	N/A		N/A		N/A		N/A
RELATED HEALTHCARE		245			264		509		257		766		294			1,060		242		253			495		252		747		225		972	-23	%	-8	%
CONVATEC		71			71		142		72		214		87			301		66		71			137		82		219		93		312	7	%	4	%
Ostomy		40			41		81		39		120		47			167		34		38			72		43		115		46		161	-2	%	-4	%	N/A		N/A		N/A		N/A
Wound Therapeutics		30			30		60		31		91		39			130		30		29			59		34		93		40		133	3	%	2	%	N/A		N/A		N/A		N/A
MEDICAL IMAGING		120			127		247		123		370		128			498		124		127			251		129		380		132		512	3	%	3	%
Cardiolite		83			92		175		91		266		95			361		91		96			187		95		282		88		370	-7	%	2	%	N/A		N/A		N/A		N/A
CONSUMER MEDICINES		54			66		120		62		182		79			261		52		55			107		41		148		—		148	-100	%	-43	%

* This table presents Total Company sales on a legal entity source basis and segment and product sales on a country management reported basis. As a result, the sum of segment sales does not tie to Total Company sales.

** Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

*** In excess of +/- 200%

**** The estimated total U.S. prescription growth for the retail and mail order channels are calculated based on National Prescription Audit (NPA) and Next-Generation Prescription Services (NGPS) data provided by IMS Health, a supplier of market research for the pharmaceutical industry. The NPA data is based on a simple average of the estimated number of prescriptions in the retail and mail order channels, and the NGPS data is based on a weighted average of the estimated number of prescription units (pills) in each of the retail and mail order channels as provided by IMS.

BRISTOL-MYERS SQUIBB COMPANY

INTERNATIONAL* NET SALES FROM CONTINUING OPERATIONS BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2004														2005														% Change
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		Qtr vs. Qtr		YTD vs. YTD
Total Company	$	2,118	$	2,157	$	4,275	$	2,145	$	6,420	$	2,347	$	8,767	$	2,222	$	2,221	$	4,443	$	2,129	$	6,572	$	2,174	$	8,746	-7	%	—
PHARMACEUTICALS		1,744		1,785		3,529		1,694		5,223		1,895		7,118		1,801		1,789		3,590		1,696		5,286		1,778		7,064	-6	%	-1	%
Cardiovascular		674		684		1,358		631		1,989		668		2,657		632		654		1,286		607		1,893		594		2,487	-11	%	-6	%
Plavix		112		118		230		121		351		143		494		141		145		286		147		433		155		588	8	%	19	%
Pravachol		328		330		658		280		938		277		1,215		262		272		534		230		764		218		982	-21	%	-19	%
Avapro/ Avalide		81		89		170		93		263		105		368		94		101		195		104		299		109		408	4	%	11	%
Coumadin		6		7		13		7		20		7		27		7		8		15		8		23		6		29	-14	%	7	%
Monopril		66		59		125		56		181		59		240		56		52		108		48		156		43		199	-27	%	-17	%
Virology		156		167		323		168		491		196		687		199		226		425		201		626		205		831	5	%	21	%
Reyataz		9		20		29		31		60		49		109		57		85		142		71		213		78		291	59	%	167	%
Sustiva		63		63		126		62		188		69		257		70		70		140		69		209		68		277	-1	%	8	%
Zerit		42		40		82		35		117		36		153		33		33		66		27		93		26		119	-28	%	-22	%
Videx/ Videx EC		42		44		86		40		126		42		168		39		38		77		34		111		34		145	-19	%	-14	%
Infectious Diseases		228		232		460		211		671		248		919		214		216		430		196		626		224		850	-10	%	-8	%
Cefzil		30		26		56		24		80		29		109		32		24		56		21		77		29		106	—		-3	%
Baraclude		—		—		—		—		—		—		—		—		—		—		—		—		1		1	—		—
Oncology		303		329		632		311		943		335		1,278		272		259		531		249		780		251		1,031	-25	%	-19	%
Taxol		229		248		477		234		711		249		960		201		182		383		171		554		176		730	-29	%	-24	%
Erbitux		—		—		—		1		1		—		1		—		1		1		1		2		—		2	—		100	%
Paraplatin		30		35		65		32		97		39		136		29		34		63		33		96		33		129	-15	%	-5	%
Affective (Psychiatric) Disorders		41		45		86		53		139		59		198		65		78		143		85		228		84		312	42	%	58	%
Abilify**		2		3		5		13		18		21		39		27		40		67		46		113		49		162	133	%	*	**
Metabolics		6		6		12		4		16		5		21		4		7		11		5		16		6		22	20	%	5	%
Glucophage franchise		6		6		12		4		16		5		21		4		7		11		5		16		6		22	20	%	5	%
Other Pharmaceuticals
Efferalgan		78		59		137		61		198		76		274		88		55		143		66		209		74		283	-3	%	3	%
NUTRITIONALS		246		255		501		254		755		255		1,010		271		281		552		281		833		302		1,135	18	%	12	%
Enfamil		64		66		130		66		196		67		263		73		79		152		62		214		93		307	39	%	17	%
RELATED HEALTHCARE		169		189		358		189		547		208		755		186		202		388		190		578		198		776	-5	%	3	%
CONVATEC		146		163		309		165		474		179		653		162		176		338		168		506		174		680	-3	%	4	%
Ostomy		87		96		183		96		279		105		384		93		101		194		96		290		99		389	-6	%	1	%
Wound Therapeutics		57		64		121		68		189		72		261		67		74		141		70		211		72		283	—		8	%
MEDICAL IMAGING		19		24		43		22		65		26		91		21		24		45		21		66		24		90	-8	%	-1	%
Cardiolite		9		13		22		10		32		13		45		11		12		23		11		34		12		46	-8	%	2	%
CONSUMER MEDICINES		4		2		6		2		8		3		11		3		2		5		1		6		—		6	-100	%	-45	%

* This table presents Total Company sales on a legal entity source basis and segment and product sales on a country management reported basis.

As a result, the sum of segment sales does not tie to Total Company sales.

** Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

*** In excess of +/- 200%

BRISTOL-MYERS SQUIBB COMPANY

EARNINGS FROM CONTINUING OPERATIONS BEFORE MINORITY INTEREST AND INCOME TAXES

EXCLUDING SPECIFIED ITEMS

($ in millions)

	2005
	Q1			Q2			Q3			Q4			TOTAL YEAR
Earnings from Continuing Operations Before Minority Interest and Provision for Income Taxes	$	928		$	1,130		$	1,626		$	832		$	4,516
Specified items:
Gain on sale of equity investment		(18	)		(9	)		—			—			(27	)
Litigation reserves		124			269			—			197			590
Insurance recoveries		—			(295	)		(26	)		—			(321	)
Provision for restructuring / other		68			94			31			95			288
Termination of muraglitizar agreement		—			—			—			(138	)		(138	)
Gain on sale of businesses		—			—			(569	)		—			(569	)
Earnings from Continuing Operations Before Minority Interest and Provision for Income Taxes Excluding Specified Items	$	1,102		$	1,189		$	1,062		$	986		$	4,339
	2004
	Q1			Q2			Q3			Q4			TOTAL YEAR
Earnings from Continuing Operations Before Minority Interest and Provision for Income Taxes	$	1,464		$	769		$	1,146		$	1,039		$	4,418
Specified items:
Gain on sale of businesses		(295	)		(18	)		(3	)		(4	)		(320	)
In-process research and development		—			62			1			—			63
Provision for restructuring / other		34			42			115			76			267
Litigation reserves		—			455			36			16			507
Earnings from Continuing Operations Before Minority Interest and Provision for Income Taxes Excluding Specified Items	$	1,203		$	1,310		$	1,295		$	1,127		$	4,935

BRISTOL-MYERS SQUIBB COMPANY

DILUTED EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS

EXCLUDING SPECIFIED ITEMS

	2005
	Q1			Q2			Q3			Q4			TOTAL YEAR *
Diluted Earnings per Common Share from Continuing Operations	$	0.27		$	0.50		$	0.49		$	0.26		$	1.52
Specified items:
Gain on sale of equity investment		(0.01	)		—			—			—			(0.01	)
Litigation reserves		0.05			0.10			—			0.06			0.22
Insurance recoveries		—			(0.09	)		(0.01	)		—			(0.10	)
Provision for restructuring / other		0.03			0.03			0.02			0.03			0.10
Termination of muraglitizar agreement		—			—			—			(0.04	)		(0.04	)
Gain on sale of businesses		—			—			(0.19	)		—			(0.19	)
Tax items		—			(0.07	)		—			—			(0.07	)
Diluted Earnings per Common Share from Continuing Operations Excluding Specified Items	$	0.34		$	0.47		$	0.31		$	0.31		$	1.43
	2004
	Q1			Q2			Q3			Q4			TOTAL YEAR
Diluted Earnings per Common Share from Continuing Operations	$	0.49		$	0.27		$	0.38		$	0.07		$	1.21
Specified items:
Gain on sale of businesses		(0.09	)		(0.01	)		—			—			(0.10	)
In-process research and development		—			0.03			—			—			0.03
Provision for restructuring / other		0.01			0.02			0.04			0.03			0.10
Litigation reserves		—			0.15			0.01			—			0.16
Tax items		—			—			0.01			0.29			0.30
Diluted Earnings per Common Share from Continuing Operations Excluding Specified Items	$	0.41		$	0.46		$	0.44		$	0.39		$	1.70

* quarterly amounts may not add to the annual total due to rounding of individual calculations.

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

FOR THE THREE MONTHS ENDED DECEMBER 31, 2005 AND 2004

($ in millions)

Three months ended December 31, 2005	Cost of products sold		Research and development		Provision for restructuring and other items, net			Litigation settlement expense		Other income			Total
Litigation Matters:
Private litigation and governmental investigations	$	—	$	—	$	—		$	185	$	—		$	185
Pharmaceutical pricing and sales litigation		—		—		—			12		—			12
		—		—		—			197		—			197
Other:
Accelerated depreciation and asset impairment		27		12		—			—		—			39
Downsizing and streamlining of worldwide operations		1		14		32			—		—			47
Upfront and milestone payments		—		9		—			—		—			9
Termination of muraglitazar agreement		5		—		—			—		(143	)		(138	)
	$	33	$	35	$	32		$	197	$	(143	)		154
Income taxes on items above														(52	)
Reduction to Net Earnings from Continuing Operations													$	102
Three months ended December 31, 2004	Cost of products sold		Research and development		Gain on sale of business			Provision for restructuring and other items, net		Litigation settlement expense			Total
Litigation Matters:
Private litigation and governmental investigations	$	—	$	—	$	—		$	—	$	16		$	16
Other:
Gain on sale of Adult Nutritional business		—		—		(4	)		—		—			(4	)
Accelerated depreciation		30		2		—			—		—			32
Downsizing and streamlining of worldwide operations		—		—		—			29		—			29
Milestone payment		—		15		—			—		—			15
	$	30	$	17	$	(4	)	$	29	$	16			88
Income taxes on items above														(26	)
Deferred taxes on anticipation of repatriation of foreign earnings														575
Reduction to Net Earnings from Continuing Operations													$	637

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2005 AND 2004

($ in millions)

Twelve months ended December 31, 2005	Cost of products sold		Research and development		Provision for restructuring		Gain on sale of business			Litigation settlement expense/ (income)			Other (income)/ expense, net			Total
Litigation Matters:
Private litigations and governmental investigations	$	—	$	—	$	—	$	—		$	558		$	—		$	558
Pharmaceutical pricing and sales litigation		—		—		—		—			12			—			12
ERISA liability and other matters		—		—		—		—			20			—			20
Insurance recoveries		—		—		—		—			(321	)		—			(321	)
		—		—		—		—			269			—			269
Other:
Gain on sale of equity investment		—		—		—		—			—			(27	)		(27	)
Loss on sale of fixed assets		—		—		—		—			—			18			18
Accelerated depreciation and asset impairment		96		14		—		—			—			—			110
Gain on sale of Consumer Medicines businesses		—		—		—		(569	)		—			—			(569	)
Upfront and milestone payments		—		44		—		—			—			—			44
Debt retirement costs		—		—		—		—			—			69			69
Downsizing and streamlining of worldwide operations		1		14		32		—			—			—			47
Termination of muraglitazar agreement		5		—		—		—			—			(143	)		(138	)
	$	102	$	72	$	32	$	(569	)	$	269		$	(83	)		(177	)
Income taxes on items above																	126
Adjustment to taxes on repatriation of foreign earnings																	(135	)
Increase to Net Earnings from Continuing Operations																$	(186	)

Twelve months ended December 31, 2004	Cost of products sold			Research and development		Acquired in-process research and development		Gain on sale of business			Provision for restructuring and other items, net		Litigation settlement expense		Other expense, net		Total
Litigation Matters:
Private litigation and governmental investigations	$	—		$	—	$	—	$	—		$	—	$	336	$	—	$	336
Product liability		75			—		—		—			—		—		11		86
Pharmaceutical pricing and sales litigation		—			—		—		—			—		34		—		34
Commercial litigation		26			—		—		—			—		—		—		26
Anti-trust litigation		—			—		—		—			—		50		—		50
Product liability insurance recovery		(25	)		—		—		—			—		—		—		(25	)
		76			—		—		—			—		420		11		507
Other:
Gain on sale of Adult Nutritional business		—			—		—		(320	)		—		—		—		(320	)
Accelerated depreciation		100			3		—		—			—		—		4		107
Downsizing and streamlining of worldwide operations		1			—		—		—			104		—		—		105
Milestone payments		—			55		—		—			—		—		—		55
Acordis IPR&D write-off		—			—		63		—			—		—		—		63
	$	177		$	58	$	63	$	(320	)	$	104	$	420	$	15		517
Income taxes on items above																		(130	)
Deferred taxed in anticipation of repartiation of foreign earnings																		575
Other tax adjustments																		10
Reduction to Net Earnings from Continuing Operations																	$	972

BRISTOL-MYERS SQUIBB COMPANY

SELECT BALANCE SHEET INFORMATION

($ in millions)

	March 31, 2004		June 30, 2004		September 30, 2004		December 31, 2004		March 31, 2005		June 30, 2005		September 30, 2005		December 31, 2005
Cash, cash equivalents and marketable debt securities	$	6,725	$	6,913	$	7,318	$	7,474	$	5,982	$	3,040	$	3,781	$	5,799
Receivables, net of allowances		3,106		3,508		3,808		4,373		3,647		3,315		3,306		3,378
Short-term borrowings		884		1,078		1,715		1,883		244		292		277		231
Long-term debt		8,635		8,376		8,540		8,463		8,326		6,008		5,895		8,364
Stockholders’ equity		10,533		10,431		10,663		10,202		10,381		10,801		11,268		11,208
Capital expenditures and capitalized software (for the quarter ended)		163		140		174		199		181		171		185		201

BRISTOL-MYERS SQUIBB COMPANY

2006 DILUTED EPS FROM CONTINUING OPERATIONS

IMPACT OF PROJECTED SPECIFIED ITEMS

	Diluted EPS Impact
Downsizing and streamlining of worldwide operations	$	0.03
Milestone Payments		0.03
Gain on sale of a product asset		(0.06	)
Total	$	—

BRISTOL-MYERS SQUIBB COMPANY

ESTIMATED MONTHS ON HAND OF TOP 15 U.S. PHARMACEUTICAL PRODUCTS

IN THE U.S. WHOLESALER DISTRIBUTION CHANNEL

The following table sets forth, for each of the Company’s top 15 pharmaceutical products sold by the Company’s U.S. Pharmaceuticals business (based on 2004 annual net sales), the U.S. Pharmaceutical business’s net sales of the applicable product for each of the six quarters ended September 30, 2004 through December 31, 2005 and the estimated number of months on hand of the applicable product in the U.S. wholesaler distribution channel at the end of each quarter.

	September 30, 2004			December 31, 2004				March 31, 2005			June 30, 2005				September 30, 2005			December 31, 2005
	Net Sales		Months on Hand	Net Sales			Months on Hand	Net Sales		Months on Hand	Net Sales			Months on Hand	Net Sales		Months on Hand	Net Sales		Months on Hand
	($ in millions)			($ in millions)				($ in millions)			($ in millions)				($ in millions)			($ in millions)
Abilify (total revenue)	$	152	0.6	$	170		0.9	$	161	0.7	$	200		0.7	$	214	0.9	$	175	0.6
Avapro/Avalide		148	0.6		154		0.9		102	0.8		157		0.6		147	0.5		168	0.6
Cefzil		30	0.6		60		1.1		50	0.7		30		0.8		27	0.7		46	0.7
Coumadin		58	0.9		69		1.0		42	1.0		42		0.7		49	0.6		50	0.8
Dovonex		34	0.7		40		0.9		30	0.6		36		0.7		31	0.6		33	0.5
Erbitux*		83	0.2		88		0.2		87	**		97		—		106	—		121	—
Glucophage Franchise		39	1.0		48		1.1		39	1.0		44		0.8		38	0.7		29	0.7
Paraplatin		145	1.2		(12	)	1.2		15	0.9		(1	)	0.8		9	1.1		5	0.9
Plavix		781	0.6		816		0.9		673	0.8		823		0.6		833	0.4		906	0.6
Pravachol		318	0.6		433		1.0		258	0.8		353		0.7		297	0.5		366	0.6
Reyataz		75	0.6		99		0.9		92	0.8		98		0.8		105	0.6		110	0.5
Sustiva		95	0.7		103		0.8		103	0.8		97		0.8		101	0.6		102	0.6
Tequin		31	0.7		39		0.9		38	0.7		22		0.8		21	0.9		22	0.9
Videx/Videx EC		27	0.6		25		0.9		10	1.2		5		1.0		7	1.1		7	0.9
Zerit		34	0.7		31		0.9		26	0.8		26		0.8		24	0.8		21	0.8

The Company determines the above months on hand estimates by dividing the estimated amount of the product in the wholesaler distribution channel by the estimated amount of out-movement of the product over a period of thirty-one days calculated as described below. Factors that may influence the Company’s estimates include generic competition, seasonality of products, wholesaler purchases in light of increases in wholesaler list prices, new product launches, new warehouse openings by wholesalers and new customer stockings by wholesalers. In addition, such estimates are calculated using data from third parties which data are a product of the third parties’ own record-keeping processes and such third-party data also may reflect estimates.

Estimates of product in the wholesaler distribution channel and out-movement are based on weekly information received directly from third-parties, and excludes any inventory held by intermediaries such as retailers and hospitals, and excludes goods in transit to such wholesalers. The Company determines the amount of out-movement of a product over a period of thirty-one days by using the most recent out-movement of a product as provided by these third parties, adjusted to reflect the Company’s estimate of goods in transit to these wholesalers. The Company estimates the amount of goods in transit by using information provided by these wholesalers with respect to their open orders and the Company’s records of sales to these wholesalers with respect to such open orders.

* To help maintain the product quality of the Company’s biologic oncology product, ERBITUX, the product is shipped only to end-users and not to other intermediaries (such as wholesalers) to hold for later sales. During 2004 and through May 2005, one of the Company’s wholesalers provided warehousing, packing and shipping services for ERBITUX. Such wholesaler held ERBITUX inventory on consignment and, under the Company’s revenue recognition policy, the Company recognized revenue when such inventory was shipped by the wholesaler to the end-user. The above estimates of months on hand for the three months ended March 31, 2005, were calculated by dividing the inventories of ERBITUX held by the wholesaler for its own account as reported by the wholesaler as of the end of the quarter by the Company’s net sales for the last calendar month of the quarter. The inventory levels reported by the wholesaler are a product of the wholesaler’s own record-keeping process. After the divestiture of OTN in May 2005, the Company no longer had consignment inventory at the wholesaler, and recognized revenue upon shipment to that wholesaler, consistent with its terms of sale and revenue recognition policy. At December 31, 2005, there was no ERBITUX inventory held by wholesalers.

** Less than 0.1 months on hand.

BRISTOL-MYERS SQUIBB COMPANY

ESTIMATED MONTHS ON HAND OF TOP INTERNATIONAL PHARMACEUTICAL AND WORLDWIDE

NON-PHARMACEUTICAL PRODUCTS

The following table sets forth for each of the Company’s key products sold by the reporting segments listed below, the net sales of the applicable product for each of the three quarters ended March 31, 2005, through September 30, 2005 and the estimated number of months on hand of the applicable product in the direct customer distribution channel for the reporting segment at the end of each quarter. The estimates of months on hand for key products described below for the International Pharmaceuticals reporting segment are based on data collected for all of the Company’s significant business units outside of the United States. For the other reporting segments, estimates are based on data collected for the United States and all significant business units outside of the United States.

	March 31, 2005			June 30, 2005			September 30, 2005
	Net Sales		Months on Hand	Net Sales		Months on Hand	Net Sales		Months on Hand
	(dollars in millions)			(dollars in millions)			(dollars in millions)
International Pharmaceuticals
Abilify (total revenue)	$	27	0.6	$	40	0.6	$	46	0.8
Avapro/Avalide		94	0.4		101	0.4		104	0.5
Bufferin		26	0.5		32	1.0		31	0.6
Capoten		42	0.8		42	0.8		38	0.9
Dafalgan		40	1.3		33	0.8		34	1.3
Efferalgan		88	0.9		55	0.5		66	1.1
Maxipime		46	0.7		52	0.8		40	0.7
Monopril		56	0.6		52	0.7		48	1.0
Paraplatin		29	0.6		34	0.6		33	0.6
Perfalgan		42	0.5		42	0.6		38	0.7
Plavix		141	0.7		145	0.5		147	0.6
Pravachol		262	0.7		272	0.7		230	0.8
Reyataz		57	0.6		85	0.8		71	0.9
Sustiva		70	0.5		70	0.6		69	0.6
Taxol		201	0.5		182	0.5		171	0.5
Videx/Videx EC		39	0.8		38	0.9		34	0.9
Zerit		33	0.6		33	0.6		27	0.7
Nutritionals
Enfamil		235	0.9		250	0.9		230	0.9
Nutramigen		44	1.0		47	1.0		44	1.1
Related Healthcare
ConvaTec
Ostomy		127	0.9		139	0.9		139	0.9
Wound Therapeutics		97	0.8		103	0.8		104	0.8
Medical Imaging
Cardiolite		102	0.7		108	0.7		106	0.8
Consumer Products
Excedrin		38	1.6		39	1.5		29	N/A

The above months on hand information represents the Company’s estimates of aggregate product level inventory on hand at direct customers at the end of each quarter divided by the expected demand for the applicable product. Expected demand is the estimated ultimate patient/consumer demand calculated based on estimated end-user consumption or direct customer out-movement data over the most recent thirty-one day period or other reasonable period. Factors that may affect the Company’s estimates include generic competition, seasonality of products, direct customer purchases in light of price increases, new product launches, new warehouse openings by direct customers, new customer stockings by direct customers and expected direct customer purchases for governmental bidding situations.