Here are the 10-K annual reports from Bristol-Myers Squibb Co. (BMY) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow BMY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BMY filings page.
Bristol Myers Squibb is a global biopharmaceutical company focused on oncology, hematology, immunology, cardiovascular and neuroscience, generating $48,194 million in revenues for the year ended December 31, 2025, roughly flat versus 2024 and up from 2023.
The business is anchored by growth brands such as Opdivo, Eliquis, Reblozyl, Breyanzi, Opdualag, Camzyos, Zeposia, Abecma, Sotyktu, Krazati and Cobenfy, supported by broad patent and regulatory exclusivity across the U.S., EU and Japan. Legacy products including Revlimid, Pomalyst, Sprycel and Abraxane face generic erosion in key markets.
The company invested heavily in innovation, with $10.0 billion of R&D expense in 2025 and a pipeline of more than 45 assets across small molecules, biologics, ADCs, CAR-T and radiopharmaceuticals. New and expanded manufacturing facilities for cell therapies and radiopharmaceuticals were brought online in the U.S. and Europe.
Regulatory and pricing pressures are intensifying. Specific products, including Eliquis and Pomalyst, are subject to government-set Medicare prices under the Inflation Reduction Act, and Orencia has been selected for future “negotiation.” A 2025 agreement with the U.S. government adds further concessions, including providing Eliquis free to Medicaid and offering substantial direct-to-patient discounts on several brands.