Bristol Myers Squibb Files 2024 Annual Report

TL;DR

BMS filed its 2024 10-K. All systems go for pharma giant.

AI Summary

Bristol Myers Squibb Co. filed its 2024 10-K on February 12, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, incorporated in Delaware, operates in the pharmaceutical preparations industry. Key financial data and business operations for the period are outlined in this comprehensive annual report.

Why It Matters

This filing provides investors and analysts with a detailed overview of Bristol Myers Squibb's financial health, strategic initiatives, and risk factors for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Bristol Myers Squibb faces inherent risks related to drug development, regulatory approvals, patent expirations, and market competition.

Key Players & Entities

• BRISTOL MYERS SQUIBB CO (company) — Filer
• 0000014272 (company) — Central Index Key
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-12 (date) — Filing Date
• 2834 (industry_code) — Standard Industrial Classification
• DE (state) — State of Incorporation
• NJ (state) — Business Address State
• 6092524621 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 Par Value BMY New York Stock Exchange
• $2 — 2(g) of the Act: Title of each class $2 Convertible Preferred Stock, $1 Par Val
• $1 — class $2 Convertible Preferred Stock, $1 Par Value ___________________________

Filing Documents

• bmy-20241231.htm (10-K) — 3833KB
• bmy-20241231exhibit21.htm (EX-21) — 146KB
• bmy-20241231exhibit23.htm (EX-23) — 3KB
• bmy-20241231exhibit31a.htm (EX-31.A) — 10KB
• bmy-20241231exhibit31b.htm (EX-31.B) — 10KB
• bmy-20241231exhibit32a.htm (EX-32.A) — 4KB
• bmy-20241231exhibit32b.htm (EX-32.B) — 4KB
• bmy-20241231_g1.jpg (GRAPHIC) — 82KB
• 0000014272-25-000039.txt ( ) — 20457KB
• bmy-20241231.xsd (EX-101.SCH) — 128KB
• bmy-20241231_cal.xml (EX-101.CAL) — 211KB
• bmy-20241231_def.xml (EX-101.DEF) — 718KB
• bmy-20241231_lab.xml (EX-101.LAB) — 1445KB
• bmy-20241231_pre.xml (EX-101.PRE) — 1106KB
• bmy-20241231_htm.xml (XML) — 3662KB

Business

Business 1 Acquisitions, Divestitures, Licensing and Other Arrangements 2 Products, Intellectual Property and Product Exclusivity 2 Research and Development 8 Alliances 14 Marketing, Distribution and Customers 14 Competition 15 Pricing, Price Constraints and Market Access 16 Government Regulation 17 Sources and Availability of Raw Materials 20 Manufacturing and Quality Assurance 20 Environmental Regulation 21 Human Capital Management and Resources 21 Foreign Operations 22 Bristol Myers Squibb Website 22 Item 1A.

Risk Factors

Risk Factors 24 Item 1B. Unresolved Staff Comments 35 Item 1C. Cybersecurity 35 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 36 PART IA Information about our Executive Officers 37 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6. [Reserved] 39 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 73 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 75 Consolidated Statements of Earnings and Comprehensive (Loss)/Income 75 Consolidated Balance Sheets 76 Consolidated Statements of Cash Flows 77 Notes to the Financial Statements 78 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 126 Item 9A.

Controls and Procedures

Controls and Procedures 126 Item 9B. Other Information 126 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 126 PART III Item 10. Directors, Executive Officers and Corporate Governance 128 Item 11.

Executive Compensation

Executive Compensation 128 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 128 Item 13. Certain Relationships and Related Transactions 128 Item 14. Principal Accountant Fees and Services 128 PART IV Item 15. Exhibits and Financial Statement Schedule 129 Item 16. Form 10-K Summary 129

SIGNATURES

SIGNATURES 130 SUMMARY OF ABBREVIATED TERMS 132 EXHIBIT INDEX 133 * Indicates brand names of products which are trademarks not owned by BMS. Specific trademark ownership information is included in the Exhibit Index at the end of this 2024 Form 10-K. PART I

BUSINESS

Item 1. BUSINESS. General Bristol-Myers Squibb Company ("we", the "Company", or "BMS") was incorporated under the laws of the State of Delaware in August 1933 under the name Bristol-Myers Company, as successor to a New York business started in 1887. In 1989, Bristol-Myers Company changed its name to Bristol-Myers Squibb Company as a result of a merger. We operate in one segment engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis. Our principal strategy is to combine the resources, scale and capability of a pharmaceutical company with the speed and focus on innovation of the biotech industry. Our focus as a biopharmaceutical company is on discovering, developing and delivering transformational medicines for patients facing serious diseases in areas where we believe that we have an opportunity to make a meaningful difference: oncology, hematology, immunology, cardiovascular, neuroscience and other areas where we can also deliver attractive returns for shareholders. Our priorities are to focus on transformational medicines where we have a competitive advantage, drive operational excellence and strategically allocate capital for long-term growth and shareholder returns. For a further discussion of our strategy initiatives, refer to "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations—Strategy." In addition, we expect that our acquisitions of Karuna, RayzeBio and Mirati in 2024 will allow us to expand in neuroscience and oncology, and continue to position us as a leading biopharmaceutical company across our core therapeutic areas. We compete with other global research-based biopharmaceutical companies, smaller research companies and generic drug manufacturers. Our products are sold worldwide, primarily to wholesalers, distributors, specialty pharmacies, and to a lesser extent, directly to retailers, hospitals, clinics and governm

View Full Filing

View this 10-K filing on SEC EDGAR