Our performance can be measured in two ways. The most important measure of our success as a global biopharmaceutical company is the difference we make in the lives of patients. In tandem, our ability to ensure the sustainability of our business is often measured by our sales growth.
Our products are sold principally to the wholesale and retail trade. Certain products are also sold to other drug manufacturers, hospitals and the medical profession. Bristol Myers Squibb is also committed to improving access to our medicines for patients who are unable to afford them.
In 2017, we invested $4.8* billion on pharmaceutical Research and Development, an amount that represents 23.1% percent of our pharmaceutical sales.
* This non-GAAP amount excludes significant upfront and milestone payments for business development transactions and other specified R&D items.
Bristol Myers Squibb made provision for $546 million in income taxes in 2017. For more information on taxes paid, refer to the Notes to Consolidated Financial Statements of our Annual Report.
Bristol Myers Squibb's worldwide sales from continuing operations are shown in the following table:
|$16.6 billion||$19.4 billion||$20.8
Our products are available in virtually every country in the world. The company's largest markets include the United States, the European Union, Japan and China.
|2017 Sales by Region|
|Rest of the World||18%|
*"Other" revenues include royalties and alliance-related revenues for products not sold by our regional commercial organizations.