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): October 24, 2012

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 2.02. Results of Operations and Financial Condition.

On October 24, 2012, Bristol-Myers Squibb Company (the “Company”) issued a press release announcing its financial results for the third quarter of 2012. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference. Also furnished and incorporated by reference as Exhibit 99.2 is certain supplemental information posted on the Company’s website at www.bms.com.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1	Press release of Bristol-Myers Squibb Company dated October 24, 2012.
99.2	Certain supplemental information posted on Bristol-Myers Squibb Company’s website at www.bms.com not included in the press release.

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
Dated: October 24, 2012	By:	/s/    SANDRA LEUNG
	Name:	Sandra Leung
	Title:	General Counsel and Corporate Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release of Bristol-Myers Squibb Company dated October 24, 2012.
99.2	Certain supplemental information posted on Bristol-Myers Squibb Company’s website at www.bms.com not included in the press release.

EX-99.1

Exhibit 99.1

Bristol-Myers Squibb Reports Third Quarter 2012 Financial Results

• Posts Third Quarter GAAP Loss per Share of $0.43 and non-GAAP EPS of $0.41

• Completes Strategic Acquisition of Amylin Pharmaceuticals and Expands Diabetes Alliance with AstraZeneca

• Demonstrates Continued R&D Productivity with Regulatory Milestones in the U.S. and Europe for Eliquis^® and Orencia^®, and Presentation of Long-Term Survival Data for Yervoy^®

• Adjusts 2012 GAAP EPS Guidance Range to $0.95 to $1.05; Confirms Non-GAAP EPS Guidance range of $1.90 to $2.00 and Guides to Upper End

(NEW YORK, October 24, 2012) – Bristol-Myers Squibb Company (NYSE: BMY) today reported financial results for the third quarter of 2012, adjusted 2012 GAAP and confirmed non-GAAP EPS guidance.

“Bristol-Myers Squibb faced challenges in the third quarter, including the discontinuation of BMS-986094 for the treatment of hepatitis C. I am proud of how we worked through these challenges and made the right decisions for patients,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. “We remain strong and well-positioned for future success as demonstrated by the achievement of regulatory milestones for Eliquis and Orencia, the presentation of long-term survival data for Yervoy, the completion of our acquisition of Amylin, and the performance of our key brands.”

	Third Quarter
$ amounts in millions, except per share amounts
	2012			2011		Change
Net Sales	$	3,736		$	5,345		(30	)%
GAAP Diluted EPS		(0.43	)		0.56		*
Non-GAAP Diluted EPS		0.41			0.61		(33	)%

* In excess of +/- 100%

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THIRD QUARTER FINANCIAL RESULTS

• Bristol-Myers Squibb posted third quarter 2012 net sales of $3.7 billion, a decrease of 30% compared to the same period a year ago, following the U.S. patent expiration of Avapro^®/Avalide^® in March 2012 and Plavix^® in May 2012. Excluding Plavix and Avapro/Avalide, net sales grew by 7% compared to the third quarter of 2011.

• U.S. net sales decreased 43% to $2.0 billion in the quarter compared to the same period a year ago. International net sales decreased 6% to $1.8 billion.

• Gross margin as a percentage of net sales was 73.6% in the quarter compared to 73.7% in the same period a year ago.

• Marketing, selling and administrative expenses increased 5% to $1.1 billion in the quarter.

• Advertising and product promotion spending decreased 19% to $167 million in the quarter.

• Research and development expenses decreased 2% to $951 million in the quarter.

• A non-cash impairment charge of $1.8 billion was included in the quarter resulting from the discontinued development of BMS-986094 (formerly known as INX-189), a nucleotide polymerase (NS5B) inhibitor that was in Phase II development for the treatment of hepatitis C.

• The Company reported an overall tax benefit rate of 43.4% attributed to the pretax loss in the quarter. The effective tax rate on earnings before income taxes was 26.0% in the third quarter of last year.

• The Company reported net loss attributable to Bristol-Myers Squibb of $711 million, or $0.43 per share, in the quarter compared to net earnings of $969 million, or $0.56 per share, a year ago.

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• The Company reported non-GAAP net earnings attributable to Bristol-Myers Squibb of $685 million, or $0.41 per share, in the third quarter, compared to $1.0 billion, or $0.61 per share, for the same period in 2011. An overview of specified items is discussed under the “Use of Non-GAAP Financial Information” section.

• Cash, cash equivalents and marketable securities were $6.6 billion, with a net debt position of $731 million, as of September 30, 2012.

• In July, the Company issued $2.0 billion of senior unsecured notes: $750 million of 0.875% notes due 2017, $750 million of 2.000% notes due 2022 and $500 million of 3.250% notes due 2042.

• Also in July, the Company entered into an additional $1.5 billion five-year revolving credit facility. There were no borrowings under revolving credit facilities at September 30, 2012.

THIRD QUARTER PRODUCT AND PIPELINE UPDATE

Bristol-Myers Squibb’s global sales in the third quarter included Orencia^® which grew 32%, Yervoy, which grew 48%, Sprycel^® which grew 25%, Onglyza^®/Kombiglyze^® which grew 40%, and Baraclude^® which grew 11%.

Eliquis

• In September, the Company and its partner, Pfizer, announced that the U.S. Food and Drug Administration (FDA) acknowledged receipt of the resubmission of the New Drug Application for Eliquis and assigned a new Prescription Drug User Fee Act goal date of March 17, 2013.

• Also in September, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency adopted a positive opinion recommending that Eliquis be granted approval for the prevention of stroke and systemic embolism in patients with nonvalvular atrial fibrillation and one or more risk factors for stroke. The CHMP’s positive opinion will be reviewed by the European Commission, which has the authority to approve medicines for the European Union.

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• In October, The Lancet published results from a subanalysis of the ARISTOTLE trial showing that reductions in stroke or systemic embolism, major bleeding and mortality demonstrated with Eliquis were consistent across a wide range of stroke and bleeding risk scores in patients with nonvalvular atrial fibrillation when compared to warfarin.

Orencia

• In October, the European Commission approved Orencia subcutaneous formulation for use in treating patients with moderate to severe rheumatoid arthritis.

Baraclude

• In October, the FDA approved a labeling update for Baraclude to include data on African Americans and liver transplant recipients with chronic hepatitis B.

Yervoy

• In September, at the 2012 congress of the European Society for Medical Oncology, the Company presented new data for Yervoy in treatment-naïve and previously treated metastatic melanoma that showed prolonged survival benefit at four and five years for some patients.

Onglyza

• In July, at the 17^th World Congress on Heart Disease in Toronto, the Company and its partner, AstraZeneca, reported the results of a pooled analysis showing that Onglyza demonstrated improvements across key measures of blood sugar control, including glycosylated hemoglobin levels, fasting plasma glucose and post-prandial glucose compared to placebo in adult patients with type 2 diabetes at high risk for cardiovascular disease.

Hepatitis C

• In August, the Company announced the discontinuation of the development of BMS-986094 in Phase II development for the treatment of hepatitis C. The decision was made in the interest of patient safety.

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THIRD QUARTER BUSINESS DEVELOPMENT UPDATE

• In August, the Company completed its acquisition of Amylin Pharmaceuticals and the expansion of its diabetes alliance with AstraZeneca, adding three marketed products to its diabetes pipeline.

• In September, the Company announced a collaboration agreement with Vanderbilt University’s Center for Neuroscience Drug Discovery for the discovery, development and commercialization of novel therapies for the treatment of Parkinson’s disease.

• In October, the Company and its partner, Sanofi, announced the restructuring of their successful long-term alliance following the loss of exclusivity of Plavix and Avapro/Avalide in many major markets. The revised agreement simplifies operations and supports the Company’s ability to focus on delivering its promising, innovation-driven R&D portfolio.

2012 FINANCIAL GUIDANCE

Bristol-Myers Squibb is adjusting its 2012 GAAP EPS guidance range to $0.95 to $1.05, from $1.78 to $1.88, and confirming its 2012 non-GAAP EPS range of $1.90 to $2.00, guiding to the upper end of the range. Both GAAP and non-GAAP guidance assume current exchange rates. Key non-GAAP guidance assumptions include:

• Worldwide sales between $17.4 billion and $17.8 billion. This assumes full-year 2012 worldwide sales of Plavix will be approximately $2.6 billion.

• Full-year gross margin as a percentage of sales improves approximately 100 basis points versus last year.

• Advertising and promotion expense decreasing in the mid-teens range.

• Marketing, sales and administrative expenses decreasing in the low-single-digit range.

• Research and development expenses growing in the low-single-digit range.

• An effective tax rate of approximately 23%.

The financial guidance for 2012 includes the impact of completed acquisitions, but excludes the impact of any potential future strategic acquisitions and divestitures and any specified items that have not yet been identified and quantified. The non-GAAP 2012 guidance also exclude other specified items as discussed under “Use of Non-GAAP Financial Information.” Details reconciling adjusted non-GAAP amounts with the amounts reflecting specified items are provided in supplemental materials available on the company’s website.

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Use of Non-GAAP Financial Information

This press release contains non-GAAP financial measures, including non-GAAP earnings and related earnings per share information. These measures are adjusted to exclude certain costs, expenses, significant gains and losses and other specified items. Among the items in GAAP measures but excluded for purposes of determining adjusted earnings and other adjusted measures are: restructuring and other exit costs; accelerated depreciation charges; net amortization related to acquired intangible assets of Amylin; IPRD and asset impairments; charges and recoveries relating to significant legal proceedings; upfront, milestone and other licensing payments for in-licensing of products that have not achieved regulatory approval which are immediately expensed; and significant tax events. This information is intended to enhance an investor’s overall understanding of the company’s past financial performance and prospects for the future. Non-GAAP financial measures provide the company and its investors with an indication of the company’s baseline performance before items that are considered by the company not to be reflective of the company’s ongoing results. The company uses non-GAAP gross profit, non-GAAP marketing, selling and administrative expense, non-GAAP research and development expense, and non-GAAP other income and expense measures to set internal budgets, manage costs, allocate resources, and plan and forecast future periods. Non-GAAP effective tax rate measures are primarily used to plan and forecast future periods. Non-GAAP earnings and earnings per share measures are primary indicators the company uses as a basis for evaluating company performance, setting incentive compensation targets, and planning and forecasting of future periods. This information is not intended to be considered in isolation or as a substitute for financial measures prepared in accordance with GAAP.

Statement on Cautionary Factors

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans and projections regarding the company’s financial position, results of operations, market position, product development and business strategy. These statements may be identified by the fact that they use words such as “anticipate”, “estimates”, “should”, “expect”, “guidance”, “project”, “intend”, “plan”, “believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, difficulties and delays in product development, manufacturing or sales including any potential future recalls, effects of the continuing implementation of the discounts and pharmaceutical company fee under the 2010 U.S. health care reform law, governmental laws and regulations related to Medicare, Medicaid, Medicaid managed care organizations and entities under the Public Health Service 340B program, pharmaceutical rebates and reimbursement, market factors, competitive product development and approvals, pricing controls and pressures (including changes in rules and practices of managed care groups and institutional and governmental purchasers), economic conditions such as interest rate and currency exchange rate fluctuations, judicial decisions, claims and concerns that may arise regarding the safety and efficacy of in-line products and product candidates,

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changes to wholesaler inventory levels, variability in data provided by third parties, changes in, and interpretation of, governmental regulations and legislation affecting domestic or foreign operations, including tax obligations, changes to business or tax planning strategies, patent positions and the ultimate outcome of any litigation matter. These factors also include the company’s ability to execute successfully its strategic plans, including its String of Pearls strategy and cost savings initiatives, the expiration of patents or data protection on certain products, and the impact and result of governmental investigations. There can be no guarantees with respect to pipeline products that future clinical studies will support the data described in this release, that the products will receive necessary regulatory approvals, or that they will prove to be commercially successful; nor are there guarantees that regulatory approvals will be sought, or sought within currently expected timeframes, or that contractual milestones will be achieved. For further details and a discussion of these and other risks and uncertainties, see the company’s periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Company and Conference Call Information

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information, please visit http://www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.

There will be a conference call on October 24, 2012, at 10:00 a.m. ET during which company executives will review financial information and address inquiries from investors and analysts. Investors and the general public are invited to listen to a live web cast of the call at http://investor.bms.com or by dialing: 913-312-0375, confirmation code: 6543884. Materials related to the call will be available at the same website prior to the call.

For more information, contact: Jennifer Fron Mauer, 609-252-6579, Communications; John Elicker, 609-252-4611, or Timothy Power, 609-252-7509, Investor Relations.

Abilify^® is a trademark of Otsuka Pharmaceutical Co., Ltd.

Atripla^® is a trademark of Bristol-Myers Squibb Co. and Gilead Sciences, Inc.

Avapro^®, Avalide^®, and Plavix^® are trademarks of Sanofi.

Byetta^® and Bydureon^® are trademarks of Amylin Pharmaceuticals, LLC and AstraZeneca Pharmaceuticals LP.

Erbitux^® is a trademark of ImClone LLC. ImClone Systems is a wholly-owned subsidiary of Eli Lilly and Company.

All other brand names are registered trademarks solely owned by the Company or one of its subsidiaries.

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BRISTOL-MYERS SQUIBB COMPANY

SELECTED PRODUCTS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, dollars in millions)

The following table sets forth worldwide and U.S. reported net sales for selected products. In addition, the table includes, where applicable, the estimated total U.S. prescription change for the retail and mail-order channels for the comparative periods presented for certain of the company’s U.S. pharmaceutical products based on third-party data. A significant portion of the company’s U.S. pharmaceutical sales is made to wholesalers. Where changes in reported net sales differ from prescription growth, this change in net sales may not reflect underlying prescriber demand.

	Worldwide Net Sales						U.S. Net Sales						% Change in U.S. Total Prescriptions vs. 2011
	2012		2011		% Change		2012		2011		% Change
Three Months Ended September 30,
Key Products
Plavix	$	64	$	1,788		(96)%	$	41	$	1,672		(98)%		(95)%
Avapro/Avalide		95		216		(56)%		7		121		(94)%		(89)%
Eliquis		—		—		N/A		—		—		N/A		—
Abilify		676		691		(2)%		502		505		(1)%		(1)%
Reyataz		363		391		(7)%		194		184		5%		(6)%
Sustiva Franchise		370		359		3%		245		222		10%		(2)%
Baraclude		346		311		11%		61		51		20%		12%
Erbitux		173		172		1%		166		168		(1)%		N/A
Sprycel		263		211		25%		107		78		37%		22%
Yervoy		179		121		48%		123		109		13%		N/A
Orencia		307		233		32%		209		154		36%		N/A
Nulojix		3		—		—		3		—		—		N/A
Onglyza/Kombiglyze		178		127		40%		127		91		40%		42%
Byetta		55		—		N/A		55		—		N/A		N/A
Bydureon		20		—		N/A		20		—		N/A		N/A
Mature Products and All Other		644		725		(11)%		125		122		2%		N/A
Total		3,736		5,345		(30)%		1,985		3,477		(43)%		N/A
Total excluding Plavix and Avapro/Avalide		3,577		3,341		7%		1,937		1,684		15%		N/A

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BRISTOL-MYERS SQUIBB COMPANY

SELECTED PRODUCTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, dollars in millions)

	Worldwide Net Sales						U.S. Net Sales						% Change in U.S. Total Prescriptions vs. 2011
	2012		2011		% Change		2012		2011		% Change
Nine Months Ended September 30,
Key Products
Plavix	$	2,498	$	5,415		(54)%	$	2,372	$	5,060		(53)%		(48)%
Avapro/Avalide		419		757		(45)%		127		414		(69)%		(65)%
Eliquis		1		—		N/A		—		—		N/A		—
Abilify		2,008		2,021		(1)%		1,472		1,482		(1)%		1%
Reyataz		1,127		1,153		(2)%		577		554		4%		(3)%
Sustiva Franchise		1,144		1,073		7%		752		665		13%		(1)%
Baraclude		1,028		878		17%		175		150		17%		11%
Erbitux		531		510		4%		512		497		3%		N/A
Sprycel		738		576		28%		290		207		40%		33%
Yervoy		495		216		*		361		204		77%		N/A
Orencia		851		660		29%		575		444		30%		N/A
Nulojix		7		2		*		6		2		*		N/A
Onglyza/Kombiglyze		511		320		60%		368		228		61%		56%
Byetta		55		—		N/A		55		—		N/A		N/A
Bydureon		20		—		N/A		20		—		N/A		N/A
Mature Products and All Other		1,997		2,209		(10)%		367		382		(4)%		N/A
Total		13,430		15,790		(15)%		8,029		10,289		(22)%		N/A
Total excluding Plavix and Avapro/Avalide		10,513		9,618		9%		5,530		4,815		15%		N/A

* In excess of +/- 100%

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BRISTOL-MYERS SQUIBB COMPANY

CONSOLIDATED STATEMENTS OF EARNINGS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, amounts in millions except per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Net Sales	$	3,736	$	5,345	$	13,430	$	15,790
Cost of products sold		987		1,407		3,535		4,231
Marketing, selling and administrative		1,071		1,019		3,077		2,987
Advertising and product promotion		167		205		585		672
Research and development		951		973		2,822		2,831
Impairment charge for BMS-986094 intangible asset		1,830		—		1,830		—
Provision for restructuring		29		8		71		92
Litigation expense/(recoveries)		50		—		(122)		—
Equity in net income of affiliates		(40)		(71)		(150)		(215)
Other (income)/expense		(50)		(26)		(45)		(195)
Total expenses		4,995		3,515		11,603		10,403
Earnings/(Loss) before Income Taxes		(1,259)		1,830		1,827		5,387
Provision for/(benefit from) income taxes		(546)		475		250		1,358
Net Earnings/(Loss)		(713)		1,355		1,577		4,029
Net Earnings/(Loss) Attributable to Noncontrolling Interest		(2)		386		542		1,172
Net Earnings/(Loss) Attributable to BMS	$	(711)	$	969	$	1,035	$	2,857
Weighted-average Common Shares Outstanding—basic		1,666		1,698		1,679		1,703
Contingently convertible debt common stock equivalents		—		1		1		1
Incremental shares attributable to share-based compensation Plans		—		16		17		13
Weighted-average Common Shares Outstanding—diluted		1,666		1,715		1,697		1,717
Earnings/(Loss) per Common Share Attributable to BMS:
Basic	$	(0.43)	$	0.57	$	0.62	$	1.67
Diluted	$	(0.43)	$	0.56	$	0.61	$	1.66
Other (income)/expense
Interest expense	$	48	$	40	$	131	$	103
Investment income		(27)		(23)		(85)		(69)
Out-licensed intangible asset impairment		—		—		38		—
Gain on sale of product lines, businesses and assets		—		(25)		(3)		(36)
Other income from alliance partners		(96)		(44)		(225)		(107)
Pension curtailments and settlements		3		2		3		(1)
Litigation charges/(recoveries)		—		1		22		(105)
Product liability charges		—		10		—		36
Other		22		13		74		(16)
Other (income)/expense	$	(50)	$	(26)	$	(45)	$	(195)

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BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, dollars in millions)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Accelerated depreciation, asset impairment and other shutdown costs	$	—	$	19	$	147	$	60
Amortization of acquired Amylin intangible assets		91		—		91		—
Amortization of Amylin collaboration proceeds		(46)		—		(46)		—
Amortization of Amylin inventory adjustment		9		—		9		—
Cost of products sold		54		19		201		60
Stock compensation from accelerated vesting of Amylin awards		67		—		67		—
Process standardization implementation costs		3		5		16		19
Marketing, selling and administrative		70		5		83		19
Stock compensation from accelerated vesting of Amylin awards		27		—		27		—
Upfront, milestone and other licensing payments		21		69		21		207
IPRD impairment		—		13		103		28
Research and development		48		82		151		235
Impairment charge for BMS-986094 intangible asset		1,830		—		1,830		—
Provision for restructuring		29		8		71		92
Litigation expense/(recoveries)		50		—		(122)		—
Gain on sale of product lines, businesses and assets		—		(12)		—		(12)
Acquisition related expenses		29		—		42		—
Litigation charges/(recoveries)		—		—		22		(102)
Product liability charges		—		10		—		36
Out-licensed intangible asset impairment		—		—		38		—
Loss on debt repurchase		8		—		27		—
Other (income)/expense		37		(2)		129		(78)
Decrease to pretax income		2,118		112		2,343		328
Income tax on items above		(722)		(37)		(791)		(99)
Specified tax benefit*		—		—		—		(71)
Income taxes		(722)		(37)		(791)		(170)
Decrease to net earnings	$	1,396	$	75	$	1,552	$	158

* The 2011 specified tax benefit relates to releases of tax reserves that were specified in prior periods.

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BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF CERTAIN NON-GAAP LINE ITEMS TO GAAP LINE ITEMS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, dollars in millions)

Three months ended September 30, 2012	GAAP		Specified Items*		Non GAAP
Gross Profit	$	2,749		54	$	2,803
Marketing, Selling and Administrative		1,071		(70)		1,001
Research and Development		951		(48)		903
Other (income)/expense		(50)		(37)		(87)
Effective Tax Rate		43.4%		(22.9)%		20.5%
Three months ended September 30, 2011	GAAP		Specified Items*		Non GAAP
Gross Profit	$	3,938		19	$	3,957
Marketing, Selling and Administrative		1,019		(5)		1,014
Research and Development		973		(82)		891
Other (income)/expense		(26)		2		(24)
Effective Tax Rate		26.0%		0.4%		26.4%

* Refer to the Specified Items schedules for further details.

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BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF CERTAIN NON-GAAP LINE ITEMS TO GAAP LINE ITEMS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, dollars in millions)

Nine months ended September 30, 2012	GAAP		Specified Items*		Non GAAP
Gross Profit	$	9,895		201	$	10,096
Marketing, Selling and Administrative		3,077		(83)		2,994
Research and Development		2,822		(151)		2,671
Other (income)/expense		(45)		(129)		(174)
Effective Tax Rate		13.7%		11.3%		25.0%
Nine months ended September 30, 2011	GAAP		Specified Items*		Non GAAP
Gross Profit	$	11,559		60	$	11,619
Marketing, Selling and Administrative		2,987		(19)		2,968
Research and Development		2,831		(235)		2,596
Other (income)/expense		(195)		78		(117)
Effective Tax Rate		25.2%		1.5%		26.7%

* Refer to the Specified Items schedules for further details.

13

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF NON-GAAP EPS TO GAAP EPS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, amounts in millions except per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Net Earnings/(Loss) Attributable to BMS—GAAP	$	(711)	$	969	$	1,035	$	2,857
Earnings attributable to unvested restricted shares		—		(2)		(1)		(6)
Net Earnings/(Loss) used for Diluted EPS Calculation—GAAP	$	(711)	$	967	$	1,034	$	2,851
Net Earnings/(Loss)—GAAP	$	(711)	$	969	$	1,035	$	2,857
Less Specified Items*		1,396		75		1,552		158
Net Earnings—Non-GAAP		685		1,044		2,587		3,015
Earnings attributable to unvested restricted shares		—		(2)		(1)		(6)
Net Earnings used for Diluted EPS Calculation—Non-GAAP	$	685	$	1,042	$	2,586	$	3,009
Average Common Shares Outstanding—Diluted—GAAP	$	1,666	$	1,715	$	1,697	$	1,717
Contingently convertible debt common stock equivalents		1		—		—		—
Incremental shares attributable to share-based compensation plans		16		—		—		—
Average Common Shares Outstanding—Diluted—Non-GAAP	$	1,683	$	1,715	$	1,697	$	1,717
Diluted Earnings/(Loss) Per Share—GAAP	$	(0.43)	$	0.56	$	0.61	$	1.66
Diluted EPS Attributable to Specified Items		0.84		0.05		0.91		0.09
Diluted Earnings/(Loss) Per Share—Non-GAAP	$	0.41	$	0.61	$	1.52	$	1.75

* Refer to the Specified Items schedules for further details.

14

BRISTOL-MYERS SQUIBB COMPANY

NET CASH CALCULATION

AS OF SEPTEMBER AND JUNE 30, 2012

(Unaudited, dollars in millions)

	September 30, 2012			June 30, 2012
Cash and cash equivalents	$	1,503		$	2,801
Marketable securities—current		1,427			2,236
Marketable securities—long-term		3,698			3,732
Cash, cash equivalents and marketable securities		6,628			8,769
Short-term borrowings and current portion of long term debt		(751	)		(236	)
Long-term debt		(6,608	)		(5,209	)
Net cash/(debt) position	$	(731	)	$	3,324

15

EX-99.2

Exhibit 99.2

BRISTOL-MYERS SQUIBB COMPANY

QUARTERLY TREND ANALYSIS OF SALES

($ in millions)

Net Sales	2011														2012												% Change		FX Impact
	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
Total	$	5,011	$	5,434	$	10,445	$	5,345	$	15,790	$	5,454	$	21,244	$	5,251	$	4,443	$	9,694	$	3,736	$	13,430			(30)%	(15)%	(3)%	(2)%
US		3,250		3,562		6,812		3,477		10,289		3,556		13,845		3,453		2,591		6,044		1,985		8,029			(43)%	(22)%	—	—
Europe		868		954		1,822		916		2,738		929		3,667		883		865		1,748		800		2,548			(13)%	(7)%	(11)%	(8)%
JPAC		449		462		911		464		1,375		487		1,862		413		430		843		438		1,281			(6)%	(7)%	(2)%	(1)%
Intercon		214		220		434		230		664		230		894		220		226		446		208		654			(10)%	(2)%	(6)%	(5)%
Emerging Markets		206		215		421		238		659		228		887		202		254		456		230		686			(3)%	4%	(5)%	(4)%
Other		24		21		45		20		65		24		89		80		77		157		75		232			*	*	—	—
% of Total Sales	2011														2012												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
Total		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%		100.0%			—	—
US		64.9%		65.5%		65.2%		65.1%		65.2%		65.2%		65.2%		65.8%		58.3%		62.3%		53.1%		59.8%			(1200)	(540)
Europe		17.3%		17.6%		17.4%		17.1%		17.3%		17.0%		17.2%		16.8%		19.5%		18.1%		21.4%		19.0%			430	170
JPAC		9.0%		8.5%		8.7%		8.7%		8.7%		8.9%		8.8%		7.9%		9.7%		8.7%		11.7%		9.5%			300	80
Intercon		4.3%		4.0%		4.2%		4.3%		4.2%		4.2%		4.2%		4.2%		5.1%		4.6%		5.6%		4.9%			130	70
Emerging Markets		4.0%		4.0%		4.0%		4.4%		4.2%		4.2%		4.2%		3.8%		5.7%		4.7%		6.2%		5.1%			180	90
Other		0.5%		0.4%		0.5%		0.4%		0.4%		0.5%		0.4%		1.5%		1.7%		1.6%		2.0%		1.7%			160	130

* in excess of +/- 100%

1

BRISTOL-MYERS SQUIBB COMPANY

SALES AND COMPOSITION OF CHANGE IN SALES

FOR THE PERIOD ENDED SEPTEMBER 30, 2012

($ in millions)

QUARTER-TO-DATE	Net Sales				Analysis of % Change
	2012		2011		Total Change		Volume		Price		Foreign Exchange
US	$	1,985	$	4             3,477		(43)%		(45)%		2%		—
Europe		800		916		(13)%		2%		(4)%		(11)%
JPAC		438		464		(6)%		—		(4)%		(2)%
Intercon		208		230		(10)%		(4)%		—		(6)%
Emerging Markets		230		238		(3)%		2%		—		(5)%
Other		75		20		*		N/A		N/A		—
Total	$	3,736	$	5,345		(30)%		(28)%		1%		(3)%
YEAR-TO-DATE	Net Sales				Analysis of % Change
	2012		2011		Total Change		Volume		Price		Foreign Exchange
US	$	8,029	$	10,289		(22)%		(28)%		6%		—
Europe		2,548		2,738		(7)%		4%		(3)%		(8)%
JPAC		1,281		1,375		(7)%		(3)%		(3)%		(1)%
Intercon		654		664		(2)%		1%		2%		(5)%
Emerging Markets		686		659		4%		9%		(1)%		(4)%
Other		232		65		*		N/A		N/A		—
Total	$	13,430	$	15,790		(15)%		(16)%		3%		(2)%

* in excess of +/- 100%

2

BRISTOL-MYERS SQUIBB COMPANY

EARNINGS FROM OPERATIONS

($ in millions, except per share amounts)

	2011														2012												% 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	$	5,011	$	5,434	$	10,445	$	5,345	$	15,790	$	5,454	$	21,244	$	5,251	$	4,443	$	9,694	$	3,736	$	13,430				(30)%		(15)%
Cost of products sold		1,343		1,481		2,824		1,407		4,231		1,367		5,598		1,303		1,245		2,548		987		3,535				(30)%		(16)%
Marketing, selling and administrative		928		1,040		1,968		1,019		2,987		1,216		4,203		1,002		1,004		2,006		1,071		3,077				5%		3%
Advertising and product promotion		214		253		467		205		672		285		957		194		224		418		167		585				(19)%		(13)%
Research and development		935		923		1,858		973		2,831		1,008		3,839		909		962		1,871		951		2,822				(2)%		—
Impairment charge for BMS-986094 intangible asset		—		—		—		—		—		—		—		—		—		—		1,830		1,830				—		—
Provision for restructuring		44		40		84		8		92		24		116		22		20		42		29		71				*		(23)%
Litigation expense/(recoveries)		—		—		—		—		—		—		—		(172)		—		(172)		50		(122)				—		—
Equity in net income of affiliates		(82)		(62)		(144)		(71)		(215)		(66)		(281)		(57)		(53)		(110)		(40)		(150)				(44)%		(30)%
Other (income)/expense		(138)		(31)		(169)		(26)		(195)		26		(169)		23		(18)		5		(50)		(45)				92%		(77)%
Total expenses		3,244		3,644		6,888		3,515		10,403		3,860		14,263		3,224		3,384		6,608		4,995		11,603				42%		12%
Earnings/(Loss) from Operations Before Income Taxes	$	1,767	$	1,790	$	3,557	$	1,830	$	5,387	$	1,594	$	6,981	$	2,027	$	1,059	$	3,086	($	1,259)	$	1,827				*		(66)%
Provision for/(benefit from) income taxes		400		483		883		475		1,358		363		1,721		545		251		796		(546)		250				*		(82)%
Net Earnings/(Loss) from Operations	$	1,367	$	1,307	$	2,674	$	1,355	$	4,029	$	1,231	$	5,260	$	1,482	$	808	$	2,290	($	713)	$	1,577				*		(61)%
Net Earnings/(Loss) Attributable to Noncontrolling Interest		381		405		786		386		1,172		379		1,551		381		163		544		(2)		542				*		(54)%
Net Earnings/(Loss) from Operations Attributable to BMS	$	986	$	902	$	1,888	$	969	$	2,857	$	852	$	3,709	$	1,101	$	645	$	1,746	($	711)	$	1,035				*		(64)%
Earnings attributable to unvested restricted shares		(2)		(2)		(4)		(2)		(6)		(1)		(8)		(1)		—		(2)		—		(1)				(100)%		(83)%
Net Earnings/(Loss) used for Diluted EPS Calculation	$	984	$	900	$	1,884	$	967	$	2,851	$	851	$	3,701	$	1,100	$	645	$	1,744	($	711)	$	1,034				*		(64)%
Diluted Earnings/(Loss) Attributable to BMS per Common Share **	$	0.57	$	0.52	$	1.10	$	0.56	$	1.66	$	0.50	$	2.16	$	0.64	$	0.38	$	1.02	($	0.43)	$	0.61				*		(63)%
Average Common Shares Outstanding - Diluted		1,714		1,722		1,718		1,715		1,717		1,712		1,717		1,706		1,701		1,704		1,666		1,697				(3)%		(1)%
Dividends declared per common share	$	0.33	$	0.33	$	0.66	$	0.33	$	0.99	$	0.34	$	1.33	$	0.34	$	0.34	$	0.68	$	0.34	$	1.02				3%		3%
% of Net Sales	2011														2012												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
Gross Margin		73.2%		72.7%		73.0%		73.7%		73.2%		74.9%		73.6%		75.2%		72.0%		73.7%		73.6%		73.7%				(10)		50
Cost of products sold		26.8%		27.3%		27.0%		26.3%		26.8%		25.1%		26.4%		24.8%		28.0%		26.3%		26.4%		26.3%				10		(50)
Marketing, selling and administrative		18.5%		19.1%		18.8%		19.1%		18.9%		22.3%		19.8%		19.1%		22.6%		20.7%		28.7%		22.9%				960		400
Advertising and product promotion		4.3%		4.7%		4.5%		3.8%		4.3%		5.2%		4.5%		3.7%		5.0%		4.3%		4.5%		4.4%				70		10
Research and development		18.7%		17.0%		17.8%		18.2%		17.9%		18.5%		18.1%		17.3%		21.7%		19.3%		25.5%		21.0%				730		310
Total expenses		64.7%		67.1%		65.9%		65.8%		65.9%		70.8%		67.1%		61.4%		76.2%		68.2%		*		86.4%				6,790		2,050
Earnings/ (Loss) from Operations Before Income Taxes		35.3%		32.9%		34.1%		34.2%		34.1%		29.2%		32.9%		38.6%		23.8%		31.8%		(33.7)%		13.6%				(6,790)		(2,050)
Net Earnings/ (Loss) from Operations Attributable to BMS		19.7%		16.6%		18.1%		18.1%		18.1%		15.6%		17.5%		21.0%		14.5%		18.0%		(19)%		7.7%				(3,710)		(1,040)
Other Ratios
Effective Tax Rate		22.6%		27.0%		24.8%		26.0%		25.2%		22.8%		24.7%		26.9%		23.7%		25.8%		43.4%		13.7%				1,740		(1,150)
Other (Income)/Expense	2011														2012												% 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
Interest expense	$	31	$	32	$	63	$	40	$	103	$	42	$	145	$	42	$	41	$	83	$	48	$	131				20%		27%
Investment income		(21)		(25)		(46)		(23)		(69)		(22)		(91)		(36)		(22)		(58)		(27)		(85)				17%		23%
Out-licensed intangible asset impairment		—		—		—		—		—		—		—		38		—		38		—		38				—		—
Gain on sale of product lines, businesses and assets		(9)		(2)		(11)		(25)		(36)		(1)		(37)		—		(3)		(3)		—		(3)				(100%)		(92)%
Other income from alliance partners		(22)		(41)		(63)		(44)		(107)		(33)		(140)		(46)		(83)		(129)		(96)		(225)				*		*
Pension curtailments and settlements		(3)		—		(3)		2		(1)		11		10		—		—		—		3		3				50%		*
Litigation charges/(recoveries)		(102)		(4)		(106)		1		(105)		80		(25)		—		22		22		—		22				(100%)		*
Product liability charges		26		—		26		10		36		(5)		31		—		—		—		—		—				(100%)		(100%)
Other		(38)		9		(29)		13		(16)		(46)		(62)		25		27		52		22		74				69%		*
	($	138)	($	31)	($	169)	($	26)	($	195)	$	26	($	169)	$	23	($	18)	$	5	($	50)	($	45)				92%		(77)%

* in excess of +/- 100%

** quarterly amounts may not add to the year-to-date totals due to rounding of individual calculations.

3

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF GAAP AND NON-GAAP GROWTH DOLLARS AND PERCENTAGES EXCLUDING FOREIGN EXCHANGE IMPACT

FOR THE PERIOD ENDED SEPTEMBER 30, 2012

(Unaudited, amounts in millions except per share data)

QUARTER-TO-DATE
	2012		2011		Growth $		Growth %		Favorable / (Unfavorable) FX Impact $ *		2012 Excluding FX		Favorable / (Unfavorable) FX Impact % *		Growth % Excluding FX
Net sales	$	3,736	$	5,345		(1,609)		(30)%	($	140)	$	3,876		(3)%		(27)%
Gross profit		2,749		3,938		(1,189)		(30)%		N/A		N/A		N/A		N/A
Gross profit excluding specified items (a)		2,803		3,957		(1,154)		(29)%		N/A		N/A		N/A		N/A
Gross profit excluding specified items as a % of sales		75.0%		74.0%
Marketing, selling and administrative		1,071		1,019		52		5%		37		1,108		4%		9%
Marketing, selling and administrative excluding specified items (a)		1,001		1,014		(13)		(1)%		39		1,040		4%		3%
Advertising and product promotion		167		205		(38)		(19)%		4		171		3%		(16)%
SG&A excluding specified items as a % of sales		31.3%		22.8%
Research and development		951		973		(22)		(2)%		10		961		1%		(1)%
Research and development excluding specified items (a)		903		891		12		1%		14		917		2%		3%
Research and development excluding specified items as a % of sales		24.2%		16.7%
YEAR-TO-DATE
	2012		2011		Growth $		Growth %		Favorable / (Unfavorable) FX Impact $ *		2012 Excluding FX		Favorable / (Unfavorable) FX Impact % *		Growth % Excluding FX
Net sales	$	13,430	$	15,790		(2,360)		(15)%	($	313)	$	13,743		(2)%		(13)%
Gross profit		9,895		11,559		(1,664)		(14)%		N/A		N/A		N/A		N/A
Gross profit excluding specified items (a)		10,096		11,619		(1,523)		(13)%		N/A		N/A		N/A		N/A
Gross profit excluding specified items as a % of sales		75.2%		73.6%
Marketing, selling and administrative		3,077		2,987		90		3%		85		3,162		3%		6%
Marketing, selling and administrative excluding specified items (a)		2,994		2,968		26		1%		87		3,081		3%		4%
Advertising and product promotion		585		672		(87)		(13)%		15		600		2%		(11)%
SG&A excluding specified items as a % of sales		26.6%		23.1%
Research and development		2,822		2,831		(9)		—		31		2,853		1%		1%
Research and development excluding specified items (a)		2,671		2,596		75		3%		38		2,709		1%		4%
Research and development excluding specified items as a % of sales		19.9%		16.4%

(a) Refer to the Specified Items tab for detail of specified items.

* Foreign exchange (FX) impact determined by the change in a line item’s current and prior period results at a common exchange rate and comparing this change to the actual reported change from the same period. This difference is determined to be the FX impact.

4

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF GAAP AND NON-GAAP GROWTH DOLLARS AND PERCENTAGES EXCLUDING FOREIGN EXCHANGE IMPACT

FOR THE PERIOD ENDED SEPTEMBER 30, 2012

(Unaudited, amounts in millions except per share data)

QUARTER-TO-DATE
	2012		2011		Growth $		Growth %		Favorable / (Unfavorable) FX Impact $ **		2012 Excluding FX		Favorable / (Unfavorable) FX Impact % **		Growth % Excluding FX
Plavix		64		1,788		(1,724)		(96)%		(1)		65		—		(96)%
Avapro/Avalide		95		216		(121)		(56)%		(6)		101		(3)%		(53)%
Eliquis		—		—		—		N/A		(1)		1		N/A		N/A
Abilify		676		691		(15)		(2)%		(19)		695		(2)%		—
Reyataz		363		391		(28)		(7)%		(17)		380		(4)%		(3)%
Sustiva Franchise		370		359		11		3%		(12)		382		(3)%		6%
Baraclude		346		311		35		11%		(10)		356		(4)%		15%
Erbitux		173		172		1		1%		1		172		1%		—
Sprycel		263		211		52		25%		(13)		276		(6)%		31%
Yervoy		179		121		58		48%		(6)		185		(5)%		53%
Orencia		307		233		74		32%		(7)		314		(3)%		35%
Nulojix		3		—		3		—		—		3		—		—
Onglyza/Kombiglyze		178		127		51		40%		(4)		182		(3)%		43%
Byetta		55		—		55		N/A		—		55		N/A		N/A
Bydureon		20		—		20		N/A		—		20		N/A		N/A
Mature Products and All Other		644		725		(81)		(11)%		(45)		689		(6)%		(5)%
Total		3,736		5,345		(1,609)		(30)%		(140)		3,876		(3)%		(27)%
Total excluding Plavix and Avapro/Avalide		3,577		3,341		236		7%		(133)		3,710		(4)%		11%
YEAR-TO-DATE
	2012		2011		Growth $		Growth %		Favorable / (Unfavorable) FX Impact $ **		2012 Excluding FX		Favorable / (Unfavorable) FX Impact % **		Growth % Excluding FX
Plavix		2,498		5,415		(2,917)		(54)%		(3)		2,501		—		(54)%
Avapro/Avalide		419		757		(338)		(45)%		(13)		432		(2)%		(43)%
Eliquis		1		—		1		N/A		—		1		N/A		N/A
Abilify		2,008		2,021		(13)		(1)%		(47)		2,055		(3)%		2%
Reyataz		1,127		1,153		(26)		(2)%		(41)		1,168		(3)%		1%
Sustiva Franchise		1,144		1,073		71		7%		(28)		1,172		(2)%		9%
Baraclude		1,028		878		150		17%		(20)		1,048		(2)%		19%
Erbitux		531		510		21		4%		—		531		—		4%
Sprycel		738		576		162		28%		(27)		765		(5)%		33%
Yervoy		495		216		279		*		(13)		508		(6)%		*
Orencia		851		660		191		29%		(15)		866		(2)%		31%
Nulojix		7		2		5		*		—		7		—		*
Onglyza/Kombiglyze		511		320		191		60%		(11)		522		(3)%		63%
Byetta		55		—		55		N/A		—		55		N/A		N/A
Bydureon		20		—		20		N/A		—		20		N/A		N/A
Mature Products and All Other		1,997		2,209		(212)		(10)%		(95)		2,092		(5)%		(5)%
Total		13,430		15,790		(2,360)		(15)%		(313)		13,743		(2)%		(13)%
Total excluding Plavix and Avapro/Avalide		10,513		9,618		895		9%		(297)		10,810		(3)%		12%

* In excess of +/- 100%

** Foreign exchange (FX) impact determined by the change in a line item’s current and prior period results at a common exchange rate and comparing this change to the actual reported change from the same period. This difference is determined to be the FX impact.

5

BRISTOL-MYERS SQUIBB COMPANY

WORLDWIDE NET SALES FROM OPERATIONS BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2011														2012												% Change				FX Impact
	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
TOTAL		5,011		5,434		10,445		5,345		15,790		5,454		21,244		5,251		4,443		9,694		3,736		13,430				(30)%		(15)%		(3)%		(2)%
Key Products
Plavix		1,762		1,865		3,627		1,788		5,415		1,672		7,087		1,693		741		2,434		64		2,498				(96)%		(54)%		—		—
Avapro/Avalide		290		251		541		216		757		195		952		207		117		324		95		419				(56)%		(45)%		(3)%		(2)%
Eliquis		—		—		—		—		—		—		—		—		1		1		—		1				N/A		N/A		N/A		N/A
Abilify (a)		624		706		1,330		691		2,021		737		2,758		621		711		1,332		676		2,008				(2)%		(1)%		(2)%		(3)%
Reyataz		366		396		762		391		1,153		416		1,569		358		406		764		363		1,127				(7)%		(2)%		(4)%		(3)%
Sustiva Franchise (b)		343		371		714		359		1,073		412		1,485		386		388		774		370		1,144				3%		7%		(3)%		(2)%
Baraclude		275		292		567		311		878		318		1,196		325		357		682		346		1,028				11%		17%		(4)%		(2)%
Erbitux		165		173		338		172		510		181		691		179		179		358		173		531				1%		4%		1%		—
Sprycel		172		193		365		211		576		227		803		231		244		475		263		738				25%		28%		(6)%		(5)%
Yervoy		—		95		95		121		216		144		360		154		162		316		179		495				48%		*		(5)%		(6)%
Orencia (c)		199		228		427		233		660		257		917		254		290		544		307		851				32%		29%		(3)%		(2)%
Nulojix		—		2		2		—		2		1		3		1		3		4		3		7				—		*		—		—
Onglyza/Kombiglyze (d)		81		112		193		127		320		153		473		161		172		333		178		511				40%		60%		(3)%		(3)%
Byetta		—		—		—		—		—		—		—		—		—		—		55		55				N/A		N/A		N/A		N/A
Bydureon		—		—		—		—		—		—		—		—		—		—		20		20				N/A		N/A		N/A		N/A
Mature Products and All Other (e)		734		750		1,484		725		2,209		741		2,950		681		672		1,353		644		1,997				(11)%		(10)%		(6)%		(5)%
	2011														2012												% Change				FX Impact
	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
Net Sales by Therapeutic Area:
Cardiovascular		2,162		2,236		4,398		2,114		6,512		1,972		8,484		1,991		958		2,949		243		3,192				(89)%		(51)%		(1)%		—
Virology		997		1,075		2,072		1,080		3,152		1,158		4,310		1,077		1,165		2,242		1,089		3,331				1%		6%		(4)%		(3)%
Oncology		466		591		1,057		629		1,686		684		2,370		679		707		1,386		728		2,114				16%		25%		(3)%		(3)%
Neuroscience		631		714		1,345		698		2,043		742		2,785		627		716		1,343		680		2,023				(3)%		(1)%		(3)%		(2)%
Immunoscience		199		230		429		233		662		258		920		255		292		547		311		858				33%		30%		(4)%		(2)%
Metabolics		107		139		246		158		404		181		585		194		206		400		299		699				89%		73%		(3)%		(2)%
Other Therapeutic Areas		449		449		898		433		1,331		459		1,790		428		399		827		386		1,213				(11)%		(9)%		(8)%		(6)%

* In excess of +/- 100%

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

(b) The Sustiva Franchise includes sales of Sustiva and revenue of bulk efavirenz included in the combination therapy, Atripla.

(c) Orencia SubQ was launched in Q4 2011. Includes SubQ sales of $15M in 2011, $61M for the three months ended September 30, 2012 and $138M for the nine months ended September 30, 2012.

(d) Includes Kombiglyze sales of $44M and $116M for the three and nine months ended September 30, 2012 and $21M and $39M for the three and nine months ended September 30, 2011 respectively.

(e) Represents all other products, including those which have lost their exclusivity in major markets, over the counter brands and royalty-related revenue. Includes Symlin sales of $13M for the three and nine months ended September 30, 2012.

6

BRISTOL-MYERS SQUIBB COMPANY

DOMESTIC NET SALES FROM OPERATIONS BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2011														2012												% Change				% Change in U.S. Total Prescription**
	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
TOTAL		3,250		3,562		6,812		3,477		10,289		3,556		13,845		3,453		2,591		6,044		1,985		8,029				(43)%		(22)%
Key Products
Plavix		1,641		1,747		3,388		1,672		5,060		1,562		6,622		1,630		701		2,331		41		2,372				(98)%		(53)%		(95)%		(48)%
Avapro/Avalide		160		133		293		121		414		107		521		100		20		120		7		127				(94)%		(69)%		(89)%		(65)%
Abilify (a)		460		517		977		505		1,482		555		2,037		440		530		970		502		1,472				(1)%		(1)%		(1)%		1%
Reyataz		181		189		370		184		554		206		760		187		196		383		194		577				5%		4%		(6)%		(3)%
Sustiva Franchise (b)		215		228		443		222		665		275		940		251		256		507		245		752				10%		13%		(2)%		(1)%
Baraclude		48		51		99		51		150		57		207		55		59		114		61		175				20%		17%		12%		11%
Erbitux		162		167		329		168		497		175		672		173		173		346		166		512				(1)%		3%		N/A		N/A
Sprycel		61		68		129		78		207		87		294		93		90		183		107		290				37%		40%		22%		33%
Yervoy		—		95		95		109		204		118		322		117		121		238		123		361				13%		77%		N/A		N/A
Orencia (c)		138		152		290		154		444		171		615		169		197		366		209		575				36%		30%		N/A		N/A
Nulojix		—		2		2		—		2		1		3		1		2		3		3		6				—		*		N/A		N/A
Onglyza/Kombiglyze (d)		57		80		137		91		228		111		339		118		123		241		127		368				40%		61%		42%		56%
Byetta		—		—		—		—		—		—		—		—		—		—		55		55				N/A		N/A		N/A		N/A
Bydureon		—		—		—		—		—		—		—		—		—		—		20		20				N/A		N/A		N/A		N/A
Mature Products and All Other (e)		127		133		260		122		382		131		513		119		123		242		125		367				2%		(4)%
Total excluding Plavix and Avapro/Avalide		1,449		1,682		3,131		1,684		4,815		1,887		6,702		1,723		1,870		3,593		1,937		5,530				15%		15%
	2011														2012												% 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 by Therapeutic Area:
Cardiovascular		1,832		1,919		3,751		1,826		5,577		1,701		7,278		1,757		751		2,508		74		2,582				(96)%		(54)%
Virology		446		470		916		457		1,373		540		1,913		494		512		1,006		502		1,508				10%		10%
Oncology		249		356		605		377		982		409		1,391		407		409		816		418		1,234				11%		26%
Neuroscience		460		518		978		506		1,484		554		2,038		440		530		970		502		1,472				(1)%		(1)%
Immunoscience		138		154		292		154		446		171		617		170		199		369		211		580				37%		30%
Metabolics		64		84		148		98		246		116		362		123		127		250		219		469				*		91%
Other Therapeutic Areas		61		61		122		59		181		65		246		62		63		125		59		184				—		2%

* In excess of +/- 100%

** The estimated U.S. prescription change data provided throughout this report includes information only from the retail and mail order channels and does not reflect product demand within other channels such as hospitals, home health care, clinics, federal facilities including Veterans Administration hospitals, and long-term care, among others. The data is provided by Wolters Kluwer Health (WK), except for SPRYCEL, and based on the Source Prescription Audit. As of December 31, 2011, SPRYCEL demand is based upon information from the Next-Generation Prescription Service (NGPS) version 2.0 of the National Prescription Audit provided by the IMS Health (IMS). The data is a product of each respective service providers’ own recordkeeping and projection processes and therefore subject to the inherent limitations of estimates based on sampling and may include a margin of error.

(a) Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd. The following table provides a reconciliation of the impact for extending the term of the commercialization and manufacturing agreement.

	2012				2011				% Change
	3rd Qtr		9 Months		3rd Qtr		9 Months		Qtr vs. Qtr		YTD vs. YTD
Abilify Net Sales As Reported		502		1,472		505		1,482		(1)%		(1)%
Contractual share change from 53.5% to 51.5%		19		57		20		58		N/A		N/A
Abilify Net Sales - Adjusted		521		1,529		525		1,540		(1)%		(1)%

(b) The Sustiva Franchise includes sales of Sustiva, as well as revenue of bulk efavirenz included in the combination therapy, Atripla. The change in U.S. total prescriptions growth for the Sustiva Franchise includes both branded Sustiva and Atripla prescription units.

(c) Orencia SubQ was launched in Q4 2011. Includes SubQ sales of $15M in 2011, and $58 and $133M for the three and nine months ended September 30, 2012, respectively.

(d) Includes Kombiglyze sales of $42M and $112M for the three and nine months ended September 30, 2012 and $20M and $38M for the three and nine months ended September 30, 2011 respectively.

(e) Represents all other products sold in the U.S., including those which have lost their exclusivity in major markets. Includes Symlin sales of $13M for the nine months ended September 30, 2012.

7

BRISTOL-MYERS SQUIBB COMPANY

INTERNATIONAL NET SALES FROM OPERATIONS BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2011														2012												% Change				FX Impact
	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
TOTAL		1,761		1,872		3,633		1,868		5,501		1,898		7,399		1,798		1,852		3,650		1,751		5,401				(6)%		(2)%		(7)%		(5)%
Key Products
Plavix		121		118		239		116		355		110		465		63		40		103		23		126				(80)%		(65)%		—		(2)%
Avapro/Avalide		130		118		248		95		343		88		431		107		97		204		88		292				(7)%		(15)%		(4)%		(3)%
Eliquis		—		—		—		—		—		—		—		—		1		1		—		1				N/A		N/A		N/A		N/A
Abilify (a)		164		189		353		186		539		182		721		181		181		362		174		536				(6)%		(1)%		(9)%		(9)%
Reyataz		185		207		392		207		599		210		809		171		210		381		169		550				(18)%		(8)%		(7)%		(7)%
Sustiva Franchise (b)		128		143		271		137		408		137		545		135		132		267		125		392				(9)%		(4)%		(9)%		(7)%
Baraclude		227		241		468		260		728		261		989		270		298		568		285		853				10%		17%		(4)%		(3)%
Erbitux		3		6		9		4		13		6		19		6		6		12		7		19				75%		46%		(2)%		(2)%
Sprycel		111		125		236		133		369		140		509		138		154		292		156		448				17%		21%		(10)%		(8)%
Yervoy		—		—		—		12		12		26		38		37		41		78		56		134				*		*		*		*
Orencia		61		76		137		79		216		86		302		85		93		178		98		276				24%		28%		(9)%		(6)%
Nulojix		—		—		—		—		—		—		—		—		1		1		—		1				N/A		N/A		N/A		N/A
Onglyza/Kombiglyze		24		32		56		36		92		42		134		43		49		92		51		143				42%		55%		(9)%		(12)%
Mature Products and All Other (c)		607		617		1,224		603		1,827		610		2,437		562		549		1,111		519		1,630				(14)%		(11)%		(5)%		(4)%
	2011														2012												% Change				FX Impact
	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
Net Sales by Therapeutic Area:
Cardiovascular		330		317		647		288		935		271		1,206		234		207		441		169		610				(41)%		(35)%		(3)%		(3)%
Virology		551		605		1,156		623		1,779		618		2,397		583		653		1,236		587		1,823				(6)%		2%		(7)%		(6)%
Oncology		217		235		452		252		704		275		979		272		298		570		310		880				23%		25%		(9)%		(6)%
Neuroscience		171		196		367		192		559		188		747		187		186		373		178		551				(7)%		(1)%		(9)%		(8)%
Immunoscience		61		76		137		79		216		87		303		85		93		178		100		278				27%		29%		(7)%		(6)%
Metabolics		43		55		98		60		158		65		223		71		79		150		80		230				33%		46%		(7)%		(5)%
Other Therapeutic Areas		388		388		776		374		1,150		394		1,544		366		336		702		327		1,029				(13)%		(11)%		(7)%		(4)%

* In excess of +/- 100%

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

(b) The Sustiva Franchise includes sales of Sustiva and revenue of bulk efavirenz included in the combination therapy, Atripla.

(c) Represents all other products, including those which have lost their exclusivity in major markets, over the counter brands and royalty-related revenue.

8

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF CERTAIN NON-GAAP LINE ITEMS TO CERTAIN GAAP LINE ITEMS

(Unaudited, amounts in millions except per share data)

	2011														2012
	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
Gross Profit	$	3,668	$	3,953	$	7,621	$	3,938	$	11,559	$	4,087	$	15,646	$	3,948	$	3,198	$	7,146	$	2,749	$	9,895
Specified items (a)		23		18		41		19		60		15		75		—		147		147		54		201
Gross profit excluding specified items		3,691		3,971		7,662		3,957		11,619		4,102		15,721		3,948		3,345		7,293		2,803		10,096
Marketing, selling and administrative		928		1,040		1,968		1,019		2,987		1,216		4,203		1,002		1,004		2,006		1,071		3,077
Specified items (a)		(4)		(10)		(14)		(5)		(19)		(10)		(29)		(8)		(5)		(13)		(70)		(83)
Marketing, selling and administrative excluding specified items		924		1,030		1,954		1,014		2,968		1,206		4,174		994		999		1,993		1,001		2,994
Research and development		935		923		1,858		973		2,831		1,008		3,839		909		962		1,871		951		2,822
Specified items (a)		(103)		(50)		(153)		(82)		(235)		—		(235)		(58)		(45)		(103)		(48)		(151)
Research and development excluding specified items		832		873		1,705		891		2,596		1,008		3,604		851		917		1,768		903		2,671
Other (income)/expense		(138)		(31)		(169)		(26)		(195)		26		(169)		23		(18)		5		(50)		(45)
Specified items (a)		76		—		76		2		78		(68)		10		(69)		(23)		(92)		(37)		(129)
Other (income)/expense excluding specified items		(62)		(31)		(93)		(24)		(117)		(42)		(159)		(46)		(41)		(87)		(87)		(174)
Effective Tax Rate		22.6%		27.0%		24.8%		26.0%		25.2%		22.8%		24.7%		26.9%		23.7%		25.8%		43.4%		13.7%
Specified items (a)		3.4%		0.9%		2.1%		0.4%		1.5%		2.1%		1.6%		(0.2)%		1.6%		0.3%		(22.9)%		11.3%
Effective Tax Rate excluding specified items		26.0%		27.9%		26.9%		26.4%		26.7%		24.9%		26.3%		26.7%		25.3%		26.1%		20.5%		25.0%

(a) Refer to the Specified Items tab for detail of specified items.

9

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

($ in millions)

	2011														2012
Dollars in Millions	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
Accelerated depreciation, asset impairment and other shutdown costs	$	23	$	18	$	41	$	19	$	60	$	15	$	75	$	—	$	147	$	147	$	—	$	147
Amortization of acquired Amylin intangible assets		—		—		—		—		—		—		—		—		—		—		91		91
Amortization of Amylin collaboration proceeds		—		—		—		—		—		—		—		—		—		—		(46)		(46)
Amortization of Amylin inventory adjustment		—		—		—		—		—		—		—		—		—		—		9		9
Cost of products sold	$	23	$	18	$	41		19		60	$	15	$	75		—		147		147		54		201
Stock compensation from accelerated vesting of Amylin awards		—		—		—		—		—		—		—		—		—		—		67		67
Process standardization implementation costs		4		10		14		5		19		10		29		8		5		13		3		16
Marketing, selling and administrative		4		10		14		5		19		10		29		8		5		13		70		83
Stock compensation from accelerated vesting of Amylin awards		—		—		—		—		—		—		—		—		—		—		27		27
Upfront, milestone and other licensing payments		88		50		138		69		207		—		207		—		—		—		21		21
IPRD impairment		15		—		15		13		28		—		28		58		45		103		—		103
Research and development		103		50		153		82		235		—		235		58		45		103		48		151
Impairment charge for BMS-986094 intangible asset		—		—		—		—		—		—		—		—		—		—		1,830		1,830
Provision for restructuring		44		40		84		8		92		24		116		22		20		42		29		71
Litigation expense/(recoveries)		—		—		—		—		—		—		—		(172)		—		(172)		50		(122)
Gain on sale of product lines, businesses and assets		—		—		—		(12)		(12)		—		(12)		—		—		—		—		—
Pension curtailments and settlements		—		—		—		—		—		13		13		—		—		—		—		—
Acquisition related expenses		—		—		—		—		—		—		—		12		1		13		29		42
Litigation charges/(recoveries)		(102)		—		(102)		—		(102)		80		(22)		—		22		22		—		22
Product liability charges		26		—		26		10		36		(5)		31		—		—		—		—		—
Out-licensed intangible asset impairment		—		—		—		—		—		—		—		38		—		38		—		38
Loss on debt repurchase		—		—		—		—		—		—		—		19		—		19		8		27
Upfront, milestone and other licensing receipts		—		—		—		—		—		(20)		(20)		—		—		—		—		—
Other (income)/expense		(76)		—		(76)		(2)		(78)		68		(10)		69		23		92		37		129
Increase/(Decrease) to pretax income		98		118		216	$	112	$	328		117		445		(15)		240		225	$	2,118	$	2,343
Income tax on items above		(28)		(34)		(62)		(37)		(99)		(37)		(136)		8		(77)		(69)		(722)		(791)
Specified tax benefit*		(56)		(15)		(71)		—		(71)		(26)		(97)		—		—		—		—		—
Income taxes		(84)		(49)		(133)		(37)		(170)		(63)		(233)		8		(77)		(69)		(722)		(791)
Increase/(Decrease) to net earnings	$	14	$	69	$	83	$	75	$	158	$	54	$	212	($	7)	$	163		156	$	1,396	$	1,552

* The 2011 specified tax benefit relates to releases of tax reserves that were specified in prior periods.

10

BRISTOL-MYERS SQUIBB COMPANY

SELECTED BALANCE SHEET INFORMATION

($ in millions)

	March 31, 2011		June 30, 2011		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012		September 30, 2012			December 31, 2012
Cash and cash equivalents	$	3,405	$	3,665	$	4,471	$	5,776	$	2,307	$	2,801	$	1,503
Marketable securities - current		3,388		4,005		3,722		2,957		2,722		2,236		1,427
Marketable securities - long term		3,065		2,734		2,819		2,909		3,585		3,732		3,698
Cash, cash equivalents and marketable securities		9,858		10,404		11,012		11,642		8,614		8,769		6,628
Short-term borrowings and current portion of long-term debt		135		187		182		115		145		236		751
Long-term debt		5,276		5,332		5,437		5,376		5,270		5,209		6,608
Net cash/(debt) position	$	4,447	$	4,885	$	5,393	$	6,151	$	3,199	$	3,324	$	(731	)

11

BRISTOL-MYERS SQUIBB COMPANY

2012 FULL YEAR PROJECTED DILUTED EPS FROM OPERATIONS

EXCLUDING PROJECTED SPECIFIED ITEMS

	Full Year 2012
Projected Diluted Earnings Attributable to Shareholders per Common Share – GAAP	$	0.95 to $1.05
Projected Specified Items:
Downsizing and streamlining of worldwide operations		0.05
Upfront, milestone and other		0.01
Amortization of Amylin intangible assets and collaboration proceeds		0.04
Amylin Acquisition expenses		0.07
Impairment charges		0.81
Litigation and product liability		(0.03	)
Total		0.95
Projected Diluted Earnings Attributable to Shareholders per Common Share – Non-GAAP	$	1.90 to $2.00

Gross margin as a percentage of sales on a GAAP and non-GAAP basis for the three months ended September 30, 2012 was 73.6% and 75.0%, respectively. On a non-GAAP basis, the Company projects gross margin as a percentage of sales for the full year 2012 to improve approximately 100 basis points compared to 2011. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on gross margin. See “– Reconciliation of GAAP and NON-GAAP Growth Dollars and Percentages Excluding Foreign Exchange Impact”.

Research and development expenses on a GAAP basis for the three months ended September 30, 2012 were $951 million, which included specified items of $48 million. On a non-GAAP basis, for the three months ended September 30, 2012 research and development expenses were $903 million. On a non-GAAP basis, the Company projects research and development expense for the full year 2012 to increase in the low single digit range compared to 2011. It is estimated that 30% to 40% of the research and development expenses in 2012 will be incurred on late-stage development programs. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on research and development. See “– Reconciliation of Certain NON-GAAP Line Items to Certain GAAP Line Items”.

Marketing, selling and administrative expenses, on a GAAP basis for the three months ended September 30, 2012 were $1.1 billion, which included specified items of $70 million. On a non-GAAP basis, for the three months ended September 30, 2012 marketing, selling and administrative expenses were $1.0 billion. On a non-GAAP basis, the Company projects marketing, selling and administrative expenses for the full year 2012 to decrease in the low-single digit range compared to 2011. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on marketing, selling and administrative expense. See “– Reconciliation of Certain NON-GAAP Line Items to Certain GAAP Line Items”.

The effective tax benefit rate on a GAAP basis for the three months ended September 30, 2012 was 43.4%, which included specified tax benefit of $722 million, and had a (22.9)% impact on the effective tax rate in aggregate. On a non-GAAP basis, for the three months ended September 30, 2012 the effective tax rate was 20.5%. On a non-GAAP basis, the Company projects an annual effective tax rate of approximately 23%, which assumes the extension of the R&D tax credit for the full year 2012. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on the tax rate. See “– Reconciliation of Certain NON-GAAP Line Items to Certain GAAP Line Items”.

The GAAP financial results for the full year 2012 will include specified items that may occur and impact results, including expected charges associated with downsizing and streamlining worldwide operations, impairment charges, milestone payments, net amortization of Amylin intangible assets and deferred revenue, acquisitions costs and significant legal proceedings. The GAAP financial results for the full year 2012 could also include other specified items that have not yet been identified and quantified, including any gains or losses from acquisitions or divestitures, additional upfront, milestone and other licensing payments, charges for in-process research and development and licensed asset impairments, charges and recoveries relating to significant legal proceedings, restructuring activities and significant tax events. For a fuller discussion of certain litigation and other matters that could impact full year GAAP results, as well as the use of non-GAAP financial information, see Bristol-Myers Squibb Reports Third Quarter 2012 Financial Results, October 24, 2012 including “2012 Financial Guidance” and “Use of Non-GAAP Financial Information” therein.

12