v3.26.1
REVENUE
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The following table summarizes the disaggregation of revenue by nature:
Three Months Ended March 31,
Dollars in millions20262025
Net product sales$11,168 $10,886 
Alliance revenues94 88 
Other revenues227 227 
Total Revenues$11,489 $11,201 

The following table summarizes GTN adjustments:
Three Months Ended March 31,
Dollars in millions20262025
Gross product sales$16,926 $19,874 
GTN adjustments(a)
Charge-backs and cash discounts(2,467)(2,958)
Medicaid and Medicare rebates(1,875)(3,840)
Other rebates, returns, discounts and adjustments(1,416)(2,190)
Total GTN adjustments(b)
(5,758)(8,988)
Net product sales$11,168 $10,886 
(a) Includes reductions/(increases) to GTN adjustments for product sales made in prior periods resulting from changes in estimates of $(21) million and $289 million for the three months ended March 31, 2026 and 2025, respectively.
(b) Includes U.S. GTN adjustments of $4.8 billion and $8.2 billion for the three months ended March 31, 2026 and 2025, respectively.
The following table summarizes the disaggregation of revenue by product and region:
Three Months Ended March 31,
Dollars in millions20262025
Growth Portfolio
Opdivo$2,146 $2,265 
Opdivo Qvantig
163 9 
Orencia818 770 
Yervoy651 624 
Reblozyl555 478 
Breyanzi
411 263 
Opdualag295 252 
Camzyos
314 159 
Zeposia118 107 
Sotyktu69 55 
Krazati
50 48 
Cobenfy
56 27 
Other Growth products(a)
581 507 
Total Growth Portfolio
6,227 5,563 
Legacy Portfolio
Eliquis4,137 3,565 
Revlimid349 936 
Pomalyst/Imnovid513 658 
Sprycel73 175 
Abraxane50 105 
Other Legacy products(b)
156 199 
Total Legacy Portfolio
5,277 5,638 
Other revenue(c)
(15)— 
Total Revenues$11,489 $11,201 
United States$7,788 $7,873 
International
3,444 3,110 
Other(d)
257 218 
Total Revenues$11,489 $11,201 
(a)    Includes Abecma, Augtyro, Onureg, Inrebic, Nulojix, Empliciti and royalty revenues, including royalties received from Merck on Winrevair*.
(b)    Includes other mature brands.
(c)    Includes revenue hedging activities in 2026.
(d)    Other revenues include royalties and alliance-related revenues for products not sold by BMS's regional commercial organizations, including royalties received from Merck on Winrevair*.

Revenue recognized from performance obligations satisfied in prior periods was $221 million and $444 million for the three months ended March 31, 2026 and 2025, respectively, consisting primarily of royalties for out-licensing arrangements and revised estimates for GTN adjustments related to prior period sales.