Bristol-Myers Squibb Co (BMS) is a pharmaceutical company primarily engaged in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products. The company focuses on therapeutic areas such as oncology, hematology, immunology, cardiovascular, and neuroscience. Its products are sold worldwide, primarily to wholesalers, distributors, specialty pharmacies, retailers, hospitals, clinics, and government agencies.

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BMS is focused on delivering breakthrough science across therapeutic areas. The company concentrates its R&D efforts in disease areas with significant unmet medical needs, including oncology, hematology, immunology, cardiovascular, and neuroscience. It also seeks to expand the value of existing products through new indications and formulations. The company manages its R&D programs on a product portfolio basis and continually evaluates its portfolio to ensure a balance of early-stage and late-stage programs. BMS supplements its internal programs with acquisitions, alliances, and collaborative agreements to bring new molecular agents, capabilities, and platforms into its pipeline. The company focuses on various modalities such as cell therapy, targeted protein degradation, radiopharmaceutical therapies, antibody drug conjugates, biologics, Mila molecules, and drug delivery technology through its research platforms. The company's R&D pipeline includes potential medicines in various modalities, including small molecule drugs, biologics, ADCs, CAR-T cell therapies, and radiopharmaceutical therapeutics. The company also seeks to expand the value of existing products through new indications and formulations. The company supplements its internal drug discovery and development programs with acquisitions, alliances, and collaborative agreements to bring new molecular agents, capabilities, and platforms into its pipeline. The R&D units of BMS are responsible for managing the company's R&D activities, which include target identification, lead discovery, lead optimization, early-stage pharmaceutical development, and clinical biomarkers R&D. The units also focus on expanding the company's manufacturing capabilities and supporting the development of disruptive and innovative therapies through external partnerships. BMS has a network of state-of-the-art R&D facilities worldwide, including centers in Cambridge, Massachusetts; Hyderabad, India; Indianapolis, Indiana; San Diego, California; Devens, Massachusetts; and Leiden, Netherlands. The company has a broad pipeline with over 45 unique assets in development and engages in major technology alliances to support its R&D initiatives. The company also offers support across all phases of development in both interventional and non-interventional research including Investigator Sponsored Research (ISR), Investigator Initiated Research (IIR), Investigator Sponsored Trials (IST) or Investigator Initiated Trials (IIT). BMS also focuses on artificial intelligence (AI) by approaching biology as a computational challenge. The company uses AI to decode complex biological systems and accelerate research. It harnesses AI to analyze vast datasets, uncovering hidden patterns and novel targets to help predict the real-world behaviors of potential treatments and drive the discovery of personalized therapies. Some of the pipeline products in Phase III includes REBLOZYL+ to treat Myelodysplastic Syndrome Associated Anemia and Myelofibrosis Associated Anemia; arlo-cel to treat Multiple Myeloma; golcadomide to treat High Risk 1L Large B-cell Lymphoma; KRAZATI+ to treat Colorectal Cancer; OPDIVO+ to treat Adjuvant Hepatocellular Carcinoma and Peri-adjuvant Muscle Invasive Urothelial Carcinoma; OPDUALAG+ to treat Adjuvant Stage III/IV Melanoma; AR LDD to treat Metastatic Castration-Resistant Prostate Cancer; SOTYKTU to treat Psoriatic Arthritis, Systemic Lupus Erythematosus, and Sjoaegren's Syndrome; admilparant to treat Idiopathic Pulmonary Fibrosis and Progressive Pulmonary Fibrosis; CAMZYOS to treat Non-Obstructive Hypertrophic Cardiomyopathy; and COBENFY to treat Adjunctive Schizophrenia and Psychosis in Alzheimer's Disease. In FY2025, the company spent US$9,951 million on its R&D activities, which as a percentage of revenue stood at 20.6%.