BMS enters into collaboration arrangements with third parties for the development and commercialization of certain products. Although each of these arrangements is unique in nature, both parties are active participants in the operating activities of the collaboration and exposed to significant risks and rewards depending on the commercial success of the activities. BMS refers to these collaborations as alliances, and its partners as alliance partners.

Selected financial information pertaining to alliances was as follows, including net product sales when BMS is the principal in the third-party customer sale for products subject to the alliance. Expenses summarized below do not include all amounts attributed to the activities for the products in the alliance, but only the payments between the alliance partners or the related amortization if the payments were deferred or capitalized.


	Three Months Ended March 31,
Dollars in millions	2026		2025
Revenues from alliances:
Net product sales	$	4,148	$	3,635
Alliance revenues	94		88
Total alliance revenues	$	4,242	$	3,723

Payments to/(from) alliance partners:
Cost of products sold	$	2,066	$	1,788
Selling, general and administrative	(66)		(65)
Research and development	71		77

Other (income)/expense, net	(12)		(12)


Dollars in millions	March 31, 2026		December 31, 2025
Selected alliance balance sheet information:
Receivables – from alliance partners	$	163	$	198
Accounts payable – to alliance partners	2,038		1,684
Deferred income – from alliances(a)	168		175

(a) Includes unamortized upfront and milestone payments.