Fourth Quarter and Full-Year 2022

Earnings Highlights

Fourth quarter and full-year results reflect robust growth of the in-line and new product portfolios, driven by strong commercial execution and continued progress of the company's pipeline. 

Full-Year Highlights








Fourth Quarter Highlights







$1.82 1,2

2023 Guidance3



 Increase approx.



$4.03 - $4.334


$7.95 $8.254

2022 was a successful year for our company, one of significant clinical and regulatory achievements that broadened our product portfolio and advanced our pipeline. We are especially proud to have launched three first-in-class medicines that address serious unmet medical needs for patients. Our financial strength, talented workforce and proven ability to execute will enable us to continue to progress our pipeline and invest in future sources of innovation. With a younger and more diversified portfolio, promising mid-to-late stage registrational assets and a deep early-stage pipeline, I am confident that the company is well positioned for multiple waves of innovation that will support long-term growth.

- Giovanni Caforio, M.D.
Chairman of the Board

Delivering Sustained Growth and Innovation

oncology section Oncology
hematology sectionHematology
immunoscience sectionfibrosis sectionImmunology/Fibrosis
cardiovascular sectionCardiovascular
In-Line Products performance:
Full Year


YoY % Increase of 7%.

Excluding Foreign Exchange4,
YoY % Increase of 11%.

Fourth Quarter


YoY % Increase of 4%.

Excluding Foreign Exchange4,
YoY % Increase of 9%.

New Product Portfolio5 performance
 Full Year


YoY % Increase of 87%.

Excluding Foreign Exchange4,
YoY % Increase of 92%.

Fourth Quarter


YoY % Increase of 83%.

Excluding Foreign Exchange4,
YoY % Increase of 87%.

Key Regulatory and Clinical Milestones

hemotology icon
  • Reblozyl®: Phase 3 COMMANDS trial met its primary endpoint in 1L TD MDS associated anemia.
  • Breyanzi®: Approved by Japan’s Ministry of Health, Labour and Welfare for second-line treatment of relapsed or refractory large B-cell lymphoma
  • Reblozyl: CHMP of the EMA has recommended approval of Reblozyl as a treatment for adult patients with anemia associated with non transfusion-dependent beta thalassemia.*
  • Breyanzi: Results from the Phase 2 portion of the TRANSCEND CLL 004 multicenter study showed that the study met the primary endpoint of complete response rate compared to historical control in adults with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma.*
immunology icon
  • Sotyktu: CHMP of the EMA has recommended approval of Sotyktu for the treatment of adults with moderate-to-severe plaque psoriasis.*
  • Zeposia®: Phase 3 DAYBREAK open-label extension study retrospective analyses showed that most participants receiving Zeposia mounted serologic response following COVID-19 vaccination.


*Announced in January 2023.

Strong Financial Foundation


BMS maintains a consistent, balanced approach to capital allocation, focused on leveraging strong cash flow generation to invest in internal and external innovation, reducing debt and returning cash to shareholders.


Cash and Marketable Securities

(as of Dec. 31, 2022)


Full-Year Cash Flow from Operating Activities

$ 12.6 B

Full-Year Returned Cash to Shareholders


Environmental, Social and Governance Highlights

As a leading biopharma company, we understand our responsibility extends well beyond the discovery, development, and delivery of innovative medicines. Our evolving Environmental, Social, and Governance (ESG) strategy builds on a legacy of comprehensive and global sustainability efforts. To learn more about our priorities and goals, please visit our latest ESG report.



Key priorities

Embracing environmental stewardship


2024  Science-based emissions reduction targets established

2030  100% renewable electricity

2040  Net neutral GHG
           100% EV fleet
           100% equitable water use
           Zero waste to landfill



Key priorities

Promoting product quality & safety
Cultivating diversity, equity & inclusion
Ensuring health equity, patient access & innovation


2021  ≥ 25% new clinical trial sites in diverse metro areas 

2022  Gender parity at executive level.
           2X representation for Black/African            American & Hispanic/Latino executives

2025   $1B spend with diverse suppliers



Key priorities

Maintaining highest ethics, integrity & compliance
Upholding Board oversight & accountability


Experienced & diverse Board

  • Board oversight of strategy & key enterprise risks
  • 64% female & ethnically diverse directors

Shareholder rights

  • Regular shareholder engagement
  • Proxy access
  • Special meeting right (15%)

GAAP and non-GAAP EPS include the net impact of Acquired IPRD charges and licensing income of ($0.01) per share in the fourth quarter and ($0.24) per share for the full year 2022. Acquired IPRD refers to certain in-process research and development (“Acquired IPRD”) charges resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights.

2 Non-GAAP EPS is not calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). This Non-GAAP measure excludes certain costs, expenses, gains and losses and other specified items. A reconciliation of GAAP to non-GAAP measures can be found on our website at See, “Quarterly package of financial information” available on for additional information on the limitations of non-GAAP financial measures and the list of specified items excluded from Non-GAAP EPS.

3 The 2023 financial guidance excludes the impact of any potential future strategic acquisitions and divestitures, any specified items that have not yet been identified and quantified and the impact of any future Acquired IPRD charges.

4 We calculate foreign exchange impacts by converting our current-period local currency financial results using the prior period average currency rates and comparing these adjusted amounts to our current-period results. Ex-FX financial measures are not accounted for according to GAAP because they remove the effects of currency movements from GAAP results. 

5 New Product Portfolio includes Reblozyl® (luspatercept-aamt), Inrebic® (fedratinib), Onureg® (azacitidine tablets), Zeposia® (ozanimod), Breyanzi® (lisocabtagene maraleucel), Abecma® (idecabtagene vicleucel), OpdualagTM (relatlimab plus nivolumab fixed-dose combination),Camzyos® (mavacamten) and SotyktuTM (deucravacitinib). 

Materials on this infographic may contain information about the company’s future plans and prospects that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. No forward-looking statement can be guaranteed. 

Forward-looking statements contained in this document should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb's business, particularly those identified in the cautionary statement and risk factors discussion in the company’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. These documents are available from the Securities and Exchange Commission, the Bristol Myers Squibb website or from Bristol Myers Squibb Investor Relations. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

 Reblozyl is being developed and commercialized through a global collaboration with Merck following Merck’s acquisition of Acceleron Pharma, Inc. in November 2021.

Includes $4.6 billion for dividends paid and $8.0 billion for common stock repurchases. 

§ Final reporting for the 2022 Commitments will be completed during the first quarter of 2023.

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