Bristol-Myers Squibb (BMY) 8-K Bristol-myers Squibb Company Reports Financial Results for the Third

Exhibit 99.2

BRISTOL-MYERS SQUIBB COMPANY

NET SALES

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2006																					2007																	% Change
Net Sales	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Pharmaceuticals	$	3,700		$	3,859		$	7,559		$	3,154		$	10,713		$	3,148		$	13,861		$	3,457		$	3,851		$	7,308		$	3,926		$	11,234				24	%	5	%
US Pharmaceuticals		2,064			2,197			4,261			1,609			5,870			1,501			7,371			1,932			2,235			4,167			2,295			6,462				43	%	10	%
Primary Care		1,409			1,441			2,850			819			3,669			648			4,317			1,090			1,344			2,434			1,363			3,797				66	%	3	%
Oncology/Virology		419			458			877			494			1,371			525			1,896			504			511			1,015			539			1,554				9	%	13	%
Neuroscience		231			280			511			262			773			297			1,070			298			327			625			336			961				28	%	24	%
Immunoscience		5			18			23			34			57			31			88			40			53			93			57			150				68	%	163	%
Europe and Middle East Medicines		1,024			1,000			2,024			886			2,910			934			3,844			916			939			1,855			944			2,799				7	%	-4	%
Latin America/Canada		288			303			591			300			891			306			1,197			297			311			608			331			939				10	%	5	%
Asia/Pacific Medicines		279			320			599			318			917			349			1,266			289			333			622			319			941				—		3	%
Health Care Group		976			1,012			1,988			1,000			2,988			1,065			4,053			1,019			1,077			2,096			1,124			3,220				12	%	8	%
Nutritionals		565			582			1,147			582			1,729			618			2,347			606			620			1,226			675			1,901				16	%	10	%
Other Health Care		411			430			841			418			1,259			447			1,706			413			457			870			449			1,319				7	%	5	%
ConvaTec		230			262			492			265			757			291			1,048			254			286			540			292			832				10	%	10	%
Medical Imaging		181			168			349			153			502			156			658			159			171			330			157			487				3	%	-3	%
Total Company	$	4,676		$	4,871		$	9,547		$	4,154		$	13,701		$	4,213		$	17,914		$	4,476		$	4,928		$	9,404		$	5,050		$	14,454				22	%	5	%
	2006																					2007																	Basis Point Change
% of Total Sales	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Pharmaceuticals		79.1	%		79.2	%		79.2	%		75.9	%		78.2	%		74.7	%		77.4	%		77.2	%		78.1	%		77.7	%		77.7	%		77.7	%			180		(50	)
US Pharmaceuticals		44.1	%		45.1	%		44.6	%		38.7	%		42.8	%		35.6	%		41.1	%		43.2	%		45.4	%		44.3	%		45.4	%		44.7	%			670		190
Primary Care		30.1	%		29.6	%		29.9	%		19.7	%		26.8	%		15.4	%		24.1	%		24.4	%		27.3	%		25.9	%		26.9	%		26.3	%			720		(50	)
Oncology/Virology		9.0	%		9.4	%		9.2	%		11.9	%		10.0	%		12.5	%		10.5	%		11.3	%		10.4	%		10.8	%		10.7	%		10.8	%			(120	)	80
Neuroscience		4.9	%		5.7	%		5.3	%		6.3	%		5.6	%		7.0	%		6.0	%		6.7	%		6.6	%		6.6	%		6.7	%		6.6	%			40		100
Immunoscience		0.1	%		0.4	%		0.2	%		0.8	%		0.4	%		0.7	%		0.5	%		0.8	%		1.1	%		1.0	%		1.1	%		1.0	%			30		60
Europe and Middle East Medicines		21.9	%		20.5	%		21.2	%		21.3	%		21.2	%		22.2	%		21.5	%		20.5	%		19.1	%		19.7	%		18.7	%		19.4	%			(260	)	(180	)
Latin America/Canada		6.2	%		6.2	%		6.2	%		7.2	%		6.5	%		7.3	%		6.7	%		6.6	%		6.3	%		6.5	%		6.6	%		6.5	%			(60	)	—
Asia/Pacific Medicines		6.0	%		6.6	%		6.3	%		7.7	%		6.7	%		8.3	%		7.1	%		6.5	%		6.8	%		6.6	%		6.3	%		6.5	%			(140	)	(20	)
Health Care Group		20.9	%		20.8	%		20.8	%		24.1	%		21.8	%		25.3	%		22.6	%		22.8	%		21.9	%		22.3	%		22.3	%		22.3	%			(180	)	50
Nutritionals		12.1	%		12.0	%		12.0	%		14.0	%		12.6	%		14.7	%		13.1	%		13.5	%		12.6	%		13.0	%		13.4	%		13.2	%			(60	)	60
Other Health Care		8.8	%		8.8	%		8.8	%		10.1	%		9.2	%		10.6	%		9.5	%		9.3	%		9.3	%		9.3	%		8.9	%		9.1	%			(120	)	(10	)
ConvaTec		4.9	%		5.4	%		5.2	%		6.4	%		5.5	%		6.9	%		5.8	%		5.7	%		5.8	%		5.8	%		5.8	%		5.7	%			(60	)	20
Medical Imaging		3.9	%		3.4	%		3.6	%		3.7	%		3.7	%		3.7	%		3.7	%		3.6	%		3.5	%		3.5	%		3.1	%		3.4	%			(60	)	(30	)
Total Company		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

* In Excess of +/- 200%

1

BRISTOL-MYERS SQUIBB COMPANY

SEGMENT SALES AND COMPOSITION OF CHANGE IN SALES FOR TOTAL COMPANY

FOR THE PERIOD ENDED SEPTEMBER 30, 2007

($ in millions)

QUARTER-TO-DATE

	Pharmaceuticals			Nutritionals			ConvaTec			Medical Imaging			Total Company
Price Increases/(Decreases)		4	%		3	%		-1	%		8	%		4	%
Foreign Exchange		3	%		4	%		5	%		1	%		3	%
Volume		17	%		9	%		6	%		-6	%		15	%
Total Change		24	%		16	%		10	%		3	%		22	%
Total 2007 Period to Date Sales	$	3,926		$	675		$	292		$	157		$	5,050
Total 2006 Period to Date Sales	$	3,154		$	582		$	265		$	153		$	4,154
YEAR-TO-DATE
	Pharmaceuticals			Nutritionals			ConvaTec			Medical Imaging			Total Company
Price Increases/(Decreases)		2	%		2	%		-1	%		1	%		1	%
Foreign Exchange		2	%		3	%		5	%		1	%		2	%
Volume		1	%		5	%		6	%		-5	%		2	%
Total Change		5	%		10	%		10	%		-3	%		5	%
Total 2007 Period to Date Sales	$	11,234		$	1,901		$	832		$	487		$	14,454
Total 2006 Period to Date Sales	$	10,713		$	1,729		$	757		$	502		$	13,701

2

BRISTOL-MYERS SQUIBB COMPANY

CONSOLIDATED STATEMENT OF EARNINGS

($ in millions, except per share amounts)

	2006																					2007																	% Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Net Sales	$	4,676		$	4,871		$	9,547		$	4,154		$	13,701		$	4,213		$	17,914		$	4,476		$	4,928		$	9,404		$	5,050		$	14,454				22	%	5	%
Cost of products sold		1,476			1,568			3,044			1,465			4,509			1,447			5,956			1,392			1,549			2,941			1,622			4,563				11	%	1	%
Marketing, selling and administrative		1,238			1,181			2,419			1,189			3,608			1,311			4,919			1,158			1,209			2,367			1,214			3,581				2	%	-1	%
Advertising and product promotion		295			352			647			286			933			418			1,351			269			368			637			351			988				23	%	6	%
Research and development		750			740			1,490			756			2,246			821			3,067			807			778			1,585			827			2,412				9	%	7	%
Provision for restructuring, net		1			3			4			2			6			53			59			37			7			44			—			44				-100	%	*
Litigation (income)/expense, net		(21	)		(14	)		(35	)		(9	)		(44	)		346			302			—			14			14			—			14				100	%	132	%
Gain on sale of product assets		(200	)		—			(200	)		—			(200	)		—			(200	)		—			(26	)		(26	)		(247	)		(273	)			—		-37	%
Equity in net income of affiliates		(93	)		(125	)		(218	)		(118	)		(336	)		(138	)		(474	)		(126	)		(128	)		(254	)		(139	)		(393	)			-18	%	-17	%
Other expense/(income), net		37			56			93			(34	)		59			240			299			22			—			22			11			33				132	%	-44	%
Total expenses		3,483			3,761			7,244			3,537			10,781			4,498			15,279			3,559			3,771			7,330			3,639			10,969				3	%	2	%
Earnings/(Loss) Before Minority Interest and Income Taxes		1,193			1,110			2,303			617			2,920			(285	)		2,635			917			1,157			2,074			1,411			3,485				129	%	19	%
Provision/(Benefit) for income taxes		328			256			584			193			777			(167	)		610			86			257			343			342			685				77	%	-12	%
Minority interest, net of taxes		151			187			338			86			424			16			440			141			194			335			211			546				145	%	29	%
Net Earnings/(Loss)	$	714		$	667		$	1,381		$	338		$	1,719		($	134	)	$	1,585		$	690		$	706		$	1,396		$	858		$	2,254				154	%	31	%
Interest expense on conversion of convertible debt bonds, net of tax		8			8			16			9			25			—	(a)		—	(b)		9			9			18			10			28
Net Earnings/(Loss) used for diluted earnings per common share calculation	$	722		$	675		$	1,397		$	347		$	1,744		($	134	)(a)	$	1,585	(b)	$	699		$	715		$	1,414		$	868		$	2,282
Diluted Earnings/(Loss) per Common Share**	$	0.36		$	0.34		$	0.70		$	0.17		$	0.88		($	0.07	)(a)	$	0.81	(b)	$	0.35		$	0.36		$	0.71		$	0.43		$	1.14				153	%	30	%
Average Common Shares Outstanding—Diluted		1,988			1,994			1,992			1,992			1,991			1,961	(a)		1,963	(b)		1,997			2,006			2,002			2,012			2,005				1	%	1	%
Dividends declared per common share	$	0.28		$	0.28		$	0.56		$	0.28		$	0.84		$	0.28		$	1.12		$	0.28		$	0.28		$	0.56		$	0.28		$	0.84				—		—
	2006																					2007																	Basis Point Change
% of Net Sales	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Gross Margin		68.4	%		67.8	%		68.1	%		64.7	%		67.1	%		65.7	%		66.8	%		68.9	%		68.6	%		68.7	%		67.9	%		68.4	%			320		130
Cost of products sold		31.6	%		32.2	%		31.9	%		35.3	%		32.9	%		34.3	%		33.2	%		31.1	%		31.4	%		31.3	%		32.1	%		31.6	%			(320	)	(130	)
Marketing, selling and administrative		26.5	%		24.2	%		25.3	%		28.6	%		26.3	%		31.1	%		27.5	%		25.9	%		24.5	%		25.2	%		24.0	%		24.8	%			(460	)	(150	)
Advertising and product promotion		6.3	%		7.2	%		6.8	%		6.9	%		6.8	%		9.9	%		7.5	%		6.0	%		7.5	%		6.8	%		7.0	%		6.8	%			10		0
Research and development		16.0	%		15.2	%		15.6	%		18.2	%		16.4	%		19.5	%		17.1	%		18.0	%		15.8	%		16.9	%		16.4	%		16.7	%			(180	)	30
Total expenses		74.5	%		77.2	%		75.9	%		85.1	%		78.7	%		106.8	%		85.3	%		79.5	%		76.5	%		77.9	%		72.1	%		75.9	%			(1,300	)	(280	)
Earnings/(Loss) Before Minority Interest and Income Taxes		25.5	%		22.8	%		24.1	%		14.9	%		21.3	%		-6.8	%		14.7	%		20.5	%		23.5	%		22.1	%		27.9	%		24.1	%			1,300		280
Net Earnings/(Loss)		15.3	%		13.7	%		14.5	%		8.1	%		12.5	%		-3.2	%		8.8	%		15.4	%		14.3	%		14.8	%		17.0	%		15.6	%			890		310
Other Ratios
Effective Tax Rate		27.5	%		23.1	%		25.4	%		31.3	%		26.6	%		58.6	%		23.1	%		9.4	%		22.2	%		16.5	%		24.2	%		19.7	%			(710	)	(690	)
	2006																					2007																	% Change
Other (Income)/Expense, net	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Interest expense	$	116		$	124		$	240		$	130		$	370		$	128		$	498		$	109		$	107		$	216		$	109		$	325				-16	%	-12	%
Interest income		(62	)		(65	)		(127	)		(74	)		(201	)		(73	)		(274	)		(53	)		(62	)		(115	)		(69	)		(184	)			7	%	8	%
Foreign exchange transaction (gains)/losses		(12	)		23			11			(11	)		—			6			6			8			(5	)		3			24			27					*	—
Other, net		(5	)		(26	)		(31	)		(79	)		(110	)		179			69			(42	)		(40	)		(82	)		(53	)		(135	)			33	%	-23	%
	$	37		$	56		$	93		$	(34	)	$	59		$	240		$	299		$	22		$	0		$	22		$	11		$	33				132	%	-44	%

* in excess of +/- 200%

** quarterly amounts may not add to the year-to-date totals due to rounding of individual calculations.

(a) as a result of the Q4 2006 net loss, Diluted Average Common Shares Outstanding and Loss per Common Share are equal to Basic Average Common Shares Outstanding and Loss per Common Share.

(b) assumed interest amount and the assumed conversion of convertible debt are not used for Diluted Earnings per Common Share calculation as the impact of convertible debt is anti-dilutive.

3

BRISTOL-MYERS SQUIBB COMPANY

WORLDWIDE NET SALES BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2006														2007													% Change
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr		��	6 Months		3rd Qtr		9 Months		4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Total Company	$	4,676	$	4,871	$	9,547	$	4,154	$	13,701	$	4,213	$	17,914	$	4,476	$	4,928		$	9,404	$	5,050	$	14,454			22	%	5	%
PHARMACEUTICALS		3,700		3,859		7,559		3,154		10,713		3,148		13,861		3,457		3,851			7,308		3,926		11,234			24	%	5	%
Cardiovascular		1,917		1,907		3,824		1,239		5,063		1,093		6,156		1,475		1,763			3,238		1,793		5,031			45	%	-1	%
Plavix		986		1,145		2,131		630		2,761		496		3,257		938		1,189			2,127		1,254		3,381			99	%	22	%
Pravachol		536		323		859		192		1,051		146		1,197		135		132			267		86		353			-55	%	-66	%
Avapro/ Avalide		233		280		513		277		790		307		1,097		270		297			567		309		876			12	%	11	%
Coumadin		55		55		110		53		163		57		220		46		52			98		50		148			-6	%	-9	%
Virology		468		524		992		532		1,524		580		2,104		590		608			1,198		647		1,845			22	%	21	%
Reyataz		207		236		443		233		676		255		931		263		254			517		273		790			17	%	17	%
Sustiva Franchise***		175		193		368		201		569		222		791		226		233			459		237		696			18	%	22	%
Baraclude		11		14		25		22		47		36		83		45		59			104		72		176			*		*
Oncology		361		401		762		399		1,161		394		1,555		355		360			715		402		1,117			1	%	-4	%
Erbitux		138		172		310		175		485		167		652		160		162			322		185		507			6	%	5	%
Taxol		147		149		296		137		433		130		563		111		95			206		102		308			-26	%	-29	%
Sprycel		—		—		—		11		11		14		25		21		35			56		46		102			*		*
Affective (Psychiatric) Disorders		323		376		699		354		1,053		404		1,457		408		458			866		467		1,333			32	%	27	%
Abilify**		283		324		607		313		920		362		1,282		366		412			778		420		1,198			34	%	30	%
Immunoscience		5		18		23		34		57		32		89		41		55			96		60		156			76	%	174	%
Orencia		5		18		23		34		57		32		89		41		55			96		60		156			76	%	174	%
Other Pharmaceuticals
Efferalgan		68		62		130		62		192		74		266		81		69			150		71		221			15	%	15	%
HEALTH CARE GROUP		976		1,012		1,988		1,000		2,988		1,065		4,053		1,019		1,077			2,096		1,124		3,220			12	%	8	%
NUTRITIONALS		565		582		1,147		582		1,729		618		2,347		606		620			1,226		675		1,901			16	%	10	%
Enfamil		237		253		490		246		736		271		1,007		254		267			521		281		802			14	%	9	%
Enfagrow		67		59		126		69		195		67		262		72		70			142		74		216			7	%	11	%
OTHER HEALTH CARE		411		430		841		418		1,259		447		1,706		413		457			870		449		1,319			7	%	5	%
CONVATEC		230		262		492		265		757		291		1,048		254		286			540		292		832			10	%	10	%
Ostomy		123		141		264		139		403		151		554		130		150			280		147		427			6	%	6	%
Wound Therapeutics		98		107		205		113		318		123		441		107		119			226		126		352			12	%	11	%
MEDICAL IMAGING		181		168		349		153		502		156		658		159		171			330		157		487			3	%	-3	%
Cardiolite		103		105		208		97		305		103		408		99		106			205		99		304			2	%	—

* In excess of +/- 200%

** Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

*** Beginning in the third quarter of 2006, Sustiva Franchise includes sales of Sustiva, as well as revenue of bulk efavirenz included in the combination therapy, Atripla. Atripla is sold through a joint venture with Gilead Sciences, Inc.

4

BRISTOL-MYERS SQUIBB COMPANY

DOMESTIC* NET SALES BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2006														2007												% Change				% Change in U.S. Total Prescription****
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD		Qtr vs. Qtr		YTD vs. YTD
Total Company	$	2,638	$	2,806	$	5,444	$	2,170	$	7,614	$	2,115	$	9,729	$	2,505	$	2,830	$	5,335	$	2,920	$	8,255			35	%	8	%
PHARMACEUTICALS		2,076		2,205		4,281		1,619		5,900		1,517		7,417		1,944		2,243		4,187		2,302		6,489			42	%	10	%
Cardiovascular		1,341		1,330		2,671		752		3,423		616		4,039		1,045		1,279		2,324		1,316		3,640			75	%	6	%
Plavix		850		988		1,838		474		2,312		343		2,655		787		1,015		1,802		1,080		2,882			128	%	25	%	86	%	6	%
Pravachol		302		128		430		73		503		50		553		57		47		104		17		121			-77	%	-76	%	-77	%	-82	%
Avapro/Avalide		139		167		306		159		465		182		647		163		170		333		176		509			11	%	9	%	-4	%	-3	%
Coumadin		47		46		93		45		138		48		186		38		43		81		40		121			-11	%	-12	%	-15	%	-16	%
Virology		259		270		529		292		821		327		1,148		319		323		642		328		970			12	%	18	%
Reyataz		119		122		241		129		370		144		514		143		138		281		141		422			9	%	14	%	10	%	13	%
Sustiva Franchise*****		108		115		223		128		351		144		495		144		147		291		151		442			18	%	26	%	19	%	23	%
Baraclude		9		9		18		14		32		18		50		17		20		37		22		59			57	%	84	%	71	%	86	%
Oncology		159		187		346		201		547		195		742		182		187		369		208		577			3	%	5	%
Erbitux		136		172		308		173		481		165		646		158		160		318		183		501			6	%	4	%	N/A		N/A
Taxol		4		4		8		2		10		2		12		4		4		8		1		9			-50	%	-10	%	N/A		N/A
Sprycel		—		—		—		11		11		11		22		10		14		24		17		41			55	%	*	**	N/A		N/A
Affective (Psychiatric) Disorders		237		286		523		266		789		302		1,091		305		333		638		346		984			30	%	25	%
Abilify**		231		267		498		260		758		294		1,052		293		322		615		329		944			27	%	25	%	10	%	12	%
Immunoscience		5		18		23		34		57		31		88		40		53		93		57		150			68	%	163	%
Orencia		5		18		23		34		57		31		88		40		53		93		57		150			68	%	163	%	N/A		N/A
Other Pharmaceuticals
Efferalgan		—		—		—		—		—		—		—		—		—		—		—		—			—		—		N/A		N/A
HEALTH CARE GROUP		478		508		986		482		1,468		527		1,995		488		511		999		529		1,528			10	%	4	%	N/A		N/A
NUTRITIONALS		247		282		529		267		796		295		1,091		274		275		549		304		853			14	%	7	%
Enfamil		155		174		329		169		498		190		688		171		177		348		195		543			15	%	9	%	N/A		N/A
Enfagrow		—		—		—		—		—		—		—		—		—		—		—		—			—		—		N/A		N/A
OTHER HEALTH CARE		231		226		457		215		672		232		904		214		236		450		225		675			5	%	—
CONVATEC		73		85		158		84		242		101		343		78		93		171		94		265			12	%	10	%
Ostomy		34		41		75		39		114		45		159		34		41		75		42		117			8	%	3	%	N/A		N/A
Wound Therapeutics		30		34		64		36		100		43		143		32		36		68		38		106			6	%	6	%	N/A		N/A
MEDICAL IMAGING		158		141		299		131		430		131		561		136		143		279		131		410			—		-5	%
Cardiolite		91		91		182		86		268		90		358		87		92		179		88		267			2	%	—		N/A		N/A

* This table presents Total Company sales on a legal entity source basis and segment and product sales on a country management reported basis. As a result, the sum of segment sales does not tie to Total Company sales.

** Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

*** In excess of +/- 200%

**** The estimated total U.S. prescription change for the retail and mail order channels are calculated based on Next-Generation Prescription Services (NGPS) version 2.0 data on a weighted-average basis. NGPS data is provided by IMS Health, a supplier of market research for the pharmaceutical industry. The weighted-average basis reflects the fact that mail order prescriptions include a greater volume of product supplied compared to retail prescriptions, which on average are 90 days for mail order and 30 days for retail. The calculation is derived by multiplying NGPS mail order prescription data by a factor that approximates three and adding to this the NGPS retail prescriptions.

***** Beginning in the third quarter of 2006, Sustiva Franchise includes sales of Sustiva, as well as revenue of bulk efavirenz included in the combination therapy, Atripla. Atripla is sold through a joint venture with Gilead Sciences, Inc. The change in U.S. total prescriptions growth for the Sustiva Franchise includes both branded Sustiva and Atripla prescription units.

5

BRISTOL-MYERS SQUIBB COMPANY

INTERNATIONAL* NET SALES BY PRODUCT

QUARTERLY SALES TREND ANALYSIS

($ in millions)

	2006														2007												% Change
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr	Year	Qtr vs. Qtr		YTD vs. YTD
Total Company	$	2,038	$	2,065	$	4,103	$	1,984	$	6,087	$	2,098	$	8,185	$	1,971	$	2,098	$	4,069	$	2,130	$	6,199			7	%	2	%
PHARMACEUTICALS		1,624		1,654		3,278		1,535		4,813		1,631		6,444		1,513		1,608		3,121		1,624		4,745			6	%	-1	%
Cardiovascular		576		577		1,153		487		1,640		477		2,117		430		484		914		477		1,391			-2	%	-15	%
Plavix		136		157		293		156		449		153		602		151		174		325		174		499			12	%	11	%
Pravachol		234		195		429		119		548		96		644		78		85		163		69		232			-42	%	-58	%
Avapro/Avalide		94		113		207		118		325		125		450		107		127		234		133		367			13	%	13	%
Coumadin		8		9		17		8		25		9		34		8		9		17		10		27			25	%	8	%
Virology		209		254		463		240		703		253		956		271		285		556		319		875			33	%	24	%
Reyataz		88		114		202		104		306		111		417		120		116		236		132		368			27	%	20	%
Sustiva Franchise****		67		78		145		73		218		78		296		82		86		168		86		254			18	%	17	%
Baraclude		2		5		7		8		15		18		33		28		39		67		50		117			*		*
Oncology		202		214		416		198		614		199		813		173		173		346		194		540			-2	%	-12	%
Erbitux		2		—		2		2		4		2		6		2		2		4		2		6			—		50	%
Taxol		143		145		288		135		423		128		551		107		91		198		101		299			-25	%	-29	%
Sprycel		—		—		—		—		—		3		3		11		21		32		29		61			—		—
Affective (Psychiatric) Disorders		86		90		176		88		264		102		366		103		125		228		121		349			38	%	32	%
Abilify**		52		57		109		53		162		68		230		73		90		163		91		254			72	%	57	%
Immunoscience		—		—		—		—		—		1		1		1		2		3		3		6			—		—
Orencia		—		—		—		—		—		1		1		1		2		3		3		6			—		—
Other Pharmaceuticals
Efferalgan		68		62		130		62		192		74		266		81		69		150		71		221			15	%	15	%
HEALTH CARE GROUP		498		504		1,002		518		1,520		538		2,058		531		566		1,097		595		1,692			15	%	11	%
NUTRITIONALS		318		300		618		315		933		323		1,256		332		345		677		371		1,048			18	%	12	%
Enfamil		82		79		161		77		238		81		319		83		90		173		86		259			12	%	9	%
Enfagrow		67		59		126		69		195		67		262		72		70		142		74		216			7	%	11	%
OTHER HEALTH CARE		180		204		384		203		587		215		802		199		221		420		224		644			10	%	10	%
CONVATEC		157		177		334		181		515		190		705		176		193		369		198		567			9	%	10	%
Ostomy		89		100		189		100		289		106		395		96		109		205		105		310			5	%	7	%
Wound Therapeutics		68		73		141		77		218		80		298		75		83		158		88		246			14	%	13	%
MEDICAL IMAGING		23		27		50		22		72		25		97		23		28		51		26		77			18	%	7	%
Cardiolite		12		14		26		11		37		13		50		12		14		26		11		37			—		—

* This table presents Total Company sales on a legal entity source basis and segment and product sales on a country management reported basis. As a result, the sum of segment sales does not tie to Total Company sales.

** Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

*** In excess of +/- 200%

**** Beginning in the third quarter of 2006, Sustiva Franchise includes sales of Sustiva, as well as revenue of bulk efavirenz included in the combination therapy, Atripla. Atripla is sold through a joint venture with Gilead Sciences, Inc.

6

BRISTOL-MYERS SQUIBB COMPANY

U.S. PHARMACEUTICALS AND PLAVIX NET SALES

EXCLUDING ESTIMATED IMPACT OF LAUNCH OF GENERIC CLOPIDOGREL BISULFATE

($ in millions)

	2007 Q3		2006 Q3		% Change Qtr vs. Qtr
U.S Pharmaceuticals Net Sales
U.S Pharmaceuticals Net Sales as Reported	$	2,295		$1,609	43	%
Estimated Impact of Launch of Generic Clopidogrel Bisulfate		—		525 to 600	—
U.S Pharmaceuticals Net Sales Excluding the Estimated Impact of Launch of Generic Clopidogrel Bisulfate	$	2,295	$	2,134 to $2,209	4% to 8	%
	2007 Q3		2006 Q3		% Change Qtr vs. Qtr
U.S Plavix Net Sales
U.S Plavix Net Sales as Reported	$	1,080		$474	128	%
Estimated Impact of Launch of Generic Clopidogrel Bisulfate		—		525 to 600	—
U.S Plavix Net Sales Excluding the Estimated Impact of Launch of Generic Clopidogrel Bisulfate	$	1,080	$	999 to $1,074	1% to 8	%

7

BRISTOL-MYERS SQUIBB COMPANY

GROSS MARGIN

EXCLUDING SPECIFIED ITEMS

($ in millions)

	2007
	Q1			Q2			Q3						TOTAL YEAR
Net Sales	$	4,476		$	4,928		$	5,050					$	14,454
Gross Profit
Gross Profit	$	3,084		$	3,379		$	3,428					$	9,891
Specified items*		16			13			17						46
Gross Profit Excluding Specified Items	$	3,100		$	3,392		$	3,445					$	9,937
Gross Margin %
Gross Margin %		68.9	%		68.6	%		67.9	%					68.4	%
Specified items*		0.4	%		0.2	%		0.3	%					0.3	%
Gross Margin % Excluding Specified Items		69.3	%		68.8	%		68.2	%					68.7	%
	2006
	Q1			Q2			Q3			Q4			TOTAL YEAR
Net Sales	$	4,676		$	4,871		$	4,154		$	4,213		$	17,914
Gross Profit
Gross Profit	$	3,200		$	3,303		$	2,689		$	2,766		$	11,958
Specified items*		46			20			72			29			167
Gross Profit Excluding Specified Items	$	3,246		$	3,323		$	2,761		$	2,795		$	12,125
Gross Margin %
Gross Margin %		68.4	%		67.8	%		64.7	%		65.7	%		66.8	%
Specified items*		1.0	%		0.4	%		1.8	%		0.6	%		0.9	%
Gross Margin % Excluding Specified Items		69.4	%		68.2	%		66.5	%		66.3	%		67.7	%

* Please refer to the Specified Item - QTD tab for detail of specified items.

8

BRISTOL-MYERS SQUIBB COMPANY

RESEARCH AND DEVELOPMENT EXPENSES

EXCLUDING SPECIFIED ITEMS

($ in millions)

	2007
	Q1		Q2		Q3				TOTAL YEAR
Research and Development Expenses	$	807	$	778	$	827			$	2,412
Specified items*		80		17		60				157
Research and Development Expenses Excluding Specified Items	$	727	$	761	$	767			$	2,255
	2006
	Q1		Q2		Q3		Q4		TOTAL YEAR
Research and Development Expenses	$	750	$	740	$	756	$	821	$	3,067
Specified items*		18		1		17		49		85
Research and Development Expenses Excluding Specified Items	$	732	$	739	$	739	$	772	$	2,982

* Please refer to the Specified Item—QTD tab for detail of specified items.

9

BRISTOL-MYERS SQUIBB COMPANY

EFFECTIVE TAX RATE

EXCLUDING SPECIFIED ITEMS

($ in millions)

	2007
	Q1			Q2			Q3						TOTAL YEAR
Provision for Income Taxes
Provision for Income Taxes	$	86		$	257		$	342					$	685
Specified items*		79			5			(82	)					2
Provision for Income Taxes Excluding Specified Items	$	165		$	262		$	260					$	687
Earnings Before Minority Interest and Provision for Income Taxes	$	917		$	1,157		$	1,411					$	3,485
Earnings Before Minority Interest and Provision for Income Taxes Excluding Specified Items	$	1,050		$	1,182		$	1,235					$	3,467
Effective Tax Rate
Effective Tax Rate		9.4	%		22.2	%		24.2	%					19.7	%
Effective Tax Rate Excluding Specified Items		15.7	%		22.2	%		21.1	%					19.8	%
	2006
	Q1			Q2			Q3			Q4			TOTAL YEAR
Provision for Income Taxes
Provision/(Benefit) for Income Taxes	$	328		$	256		$	193		$	(167	)	$	610
Specified items*		(49	)		(3	)		(34	)		196			110
Provision for Income Taxes Excluding Specified Items	$	279		$	253		$	159		$	29		$	720
Earnings/(Loss) Before Minority Interest and Provision for Income Taxes	$	1,193		$	1,110		$	617		$	(285	)	$	2,635
Earnings Before Minority Interest and Provision for Income Taxes Excluding Specified Items	$	1,081		$	1,120		$	670		$	425		$	3,296
Effective Tax Rate
Effective Tax Rate		27.5	%		23.1	%		31.3	%		58.6	%		23.1	%
Effective Tax Rate Excluding Specified Items		25.8	%		22.6	%		23.7	%		6.8	%		21.8	%

* Please refer to the Specified Item—QTD tab for detail of specified items.

10

BRISTOL-MYERS SQUIBB COMPANY

EARNINGS BEFORE MINORITY INTEREST AND INCOME TAXES

EXCLUDING SPECIFIED ITEMS

($ in millions)

	2007
	Q1			Q2			Q3						TOTAL YEAR
Earnings Before Minority Interest and Provision for Income Taxes	$	917		$	1,157		$	1,411					$	3,485
Specified items:
Upfront and milestone payments		80			17			60						157
Downsizing and streamlining of worldwide operations		53			20			17						90
Litigation matters		—			14			5						19
Insurance recoveries		—			—			(11	)					(11	)
Gain on sale of product assets		—			(26	)		(247	)					(273	)
Subtotal		133			25			(176	)					(18	)
Earnings Before Minority Interest and Provision for Income Taxes Excluding Specified Items	$	1,050		$	1,182		$	1,235					$	3,467
	2006
	Q1			Q2			Q3			Q4			TOTAL YEAR
Earnings / (Loss) Before Minority Interest and Provision for Income Taxes	$	1,193		$	1,110		$	617		($	285	)	$	2,635
Specified items:
Gain on sale of product asset		(200	)		—			—			—			(200	)
Litigation matters		40			(14	)		(29	)		353			350
Insurance recoveries		(21	)		—			(9	)		(7	)		(37	)
Downsizing and streamlining of worldwide operations		69			24			91			131			315
Debt retirement costs		—			—			—			220			220
Claim for damages		—			—			—			13			13
Subtotal		(112	)		10			53			710			661
Earnings Before Minority Interest and Provision for Income Taxes Excluding Specified Items	$	1,081		$	1,120		$	670		$	425		$	3,296

11

BRISTOL-MYERS SQUIBB COMPANY

DILUTED EARNINGS PER COMMON SHARE

EXCLUDING SPECIFIED ITEMS

	2007
	Q1			Q2			Q3						TOTAL YEAR *
Diluted Earnings per Common Share	$	0.35		$	0.36		$	0.43					$	1.14
Specified items:
Upfront and milestone payments		0.03			0.01			0.01						0.05
Downsizing and streamlining of worldwide operations		0.02			0.01			0.01						0.04
Gain on sale of product assets		—			(0.01	)		(0.07	)					(0.08	)
Tax item		(0.02	)		—			—						(0.02	)
Subtotal		0.03			0.01			(0.05	)					(0.01	)
Diluted Earnings per Common Share Excluding Specified Items	$	0.38		$	0.37		$	0.38					$	1.13
	2006
	Q1			Q2			Q3			Q4			TOTAL YEAR *
Diluted Earnings / (Loss) per Common Share	$	0.36		$	0.34		$	0.17		$	(0.07	)	$	0.81
Specified items:
Gain on sale of product asset		(0.06	)		—			—			—			(0.06	)
Litigation matters		0.01			—			(0.01	)		0.14			0.14
Insurance recoveries		(0.01	)		—			—			—			(0.01	)
Downsizing and streamlining of worldwide operations / other		0.02			0.01			0.04			0.05			0.12
Debt retirement costs		—			—			—			0.07			0.07
Tax item		—			—			0.02			—			0.02
Subtotal		(0.04	)		0.01			0.05			0.26			0.28
Diluted Earnings per Common Share Excluding Specified Items	$	0.32		$	0.35		$	0.22		$	0.19		$	1.09

* quarterly amounts may not add to the annual total due to rounding of individual calculations.

12

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006

($ in millions)

Three months ended September 30, 2007

	Cost of products sold		Research and development		Gain on sale of product assets			Other (income)/expense, net			Total
Litigation Matters:
Insurance recovery	$	—	$	—	$	—		$	(11	)	$	(11	)
Product liability		—		—		—			5			5
		—		—		—			(6	)		(6	)
Other:
Upfront and milestone payments		—		60		—			—			60
Accelerated depreciation and asset impairment		17		—		—			—			17
Gain on sale of product assets		—		—		(247	)		—			(247	)
	$	17	$	60	$	(247	)	$	(6	)		(176	)
Income taxes on items above												82
(Increase)/Decrease to Net Earnings											$	(94	)

Three months ended September 30, 2006

	Cost of products sold		Research and development		Provision for restructuring, net		Litigation income, net			Other (income)/ expense, net			Total
Litigation Matters:
Insurance recovery	$	—	$	—	$	—	$	(9	)	$	—		$	(9	)
Product liability		—		—		—		—			11			11
Commercial litigation		—		—		—		—			(40	)		(40	)
		—		—		—		(9	)		(29	)		(38	)
Other:
Accelerated depreciation and asset impairment		72		—		—		—			—			72
Downsizing and streamlining of worldwide operations		—		—		2		—			—			2
Upfront and milestone payments		—		17		—		—			—			17
	$	72	$	17	$	2	$	(9	)	$	(29	)		53
Income taxes on items above														(5	)
Minority interest, net of taxes														13
Change in estimate for taxes on prior year items														39
(Increase)/Decrease to Net Earnings													$	100

13

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006

($ in millions)

Nine months ended September 30, 2007

	Cost of products sold		Research and development		Provision for restructuring, net		Litigation expense, net		Other (income)/ expense, net			Gain on sale of product assets			Total
Litigation Matters:
Litigation settlement	$	—	$	—	$	—	$	14	$	—		$	—		$	14
Insurance recovery		—		—		—		—		(11	)		—			(11	)
Product liability		—		—		—		—		5			—			5
		—		—		—		14		(6	)		—			8
Other:
Upfront and milestone payments		—		157		—		—		—			—			157
Accelerated depreciation and asset impairment		46		—		—		—		—			—			46
Downsizing and streamlining of worldwide operations		—		—		44		—		—			—			44
Gain on sale of product assets		—		—		—		—		—			(273	)		(273	)
	$	46	$	157	$	44	$	14	$	(6	)	$	(273	)		(18	)
Income taxes on items above																37
Change in estimate for taxes on a prior year specified item																(39	)
(Increase)/Decrease to Net Earnings															$	(20	)

Nine months ended September 30, 2006

	Cost of products sold		Research and development		Marketing selling and administrative		Provision for restructuring, net		Litigation income, net			Other (income)/ expense, net		Gain on sale of product asset			Total
Litigation Matters:
Insurance recovery	$	—	$	—	$	—	$	—	$	(30	)	$	—	$	—		$	(30	)
Product liability		—		—		—		—		—			11		—			11
Commercial litigations		—		—		—		—		(14	)		—		—			(14	)
		—		—		—		—		(44	)		11		—			(33	)
Other:
Accelerated depreciation, asset impairment and contract termination		138		1		4		—		—			—		—			143
Downsizing and streamlining of worldwide operations		—		—		—		6		—			—		—			6
Upfront and milestone payments		—		35		—		—		—			—		—			35
Gain on sale of product asset		—		—		—		—		—			—		(200	)		(200	)
	$	138	$	36	$	4	$	6	$	(44	)	$	11	$	(200	)		(49	)
Income taxes on items above																		47
Change in estimate for taxes on prior year items																		39
(Increase)/Decrease to Net Earnings																	$	37

14

BRISTOL-MYERS SQUIBB COMPANY

SELECT BALANCE SHEET INFORMATION

($ in millions)

	March 31,		June 30,		September 30,		December 31,			March 31,		June 30,		September 30,		December 31,
	2006		2006		2006		2006			2007		2007		2007		2007
Cash, cash equivalents and marketable debt securities	$	5,281	$	5,357	$	5,505	$	4,013		$	4,012	$	4,646	$	3,582
Short-term borrowings		234		189		630		187			241		256		1,879
Long-term debt		8,278		8,239		7,837		7,248			7,132		6,978		4,248
Net debt	$	3,231	$	3,071	$	2,962	$	3,422		$	3,361	$	2,588	$	2,545
Receivables, net of allowances	$	3,236	$	3,326	$	2,945	$	3,247		$	3,381	$	3,632	$	3,704
Stockholders' equity		11,556		11,712		11,589		9,991	(1)		10,261		10,762		11,153
Capital expenditures and capitalized software (for the quarter ended)		202		160		199		224			202		206		185

(1) Includes the impact of the adoption of SFAS 158, "Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans - an amendment of FASB Statements No. 87, 88, 106 and 132(R)"

15

BRISTOL-MYERS SQUIBB COMPANY

2007 FULL YEAR PROJECTED DILUTED EPS

EXCLUDING PROJECTED SPECIFIED ITEMS

	Full Year 2007
Projected Diluted Earnings per Common Share	$	1.28 to $1.33
Projected Specified Items:
In-process R&D charge		0.12
Upfront and milestone payments		0.06
Downsizing and streamlining of worldwide operations		0.06
Gain on sale of product assets		(0.08	)
Tax item		(0.02	)
Total		0.14
Projected Diluted Earnings per Common Share Excluding Specified Items	$	1.42 to $1.47

2007 and 2008 Gross Margin/Research and Development/Tax Rate Projections Excluding Specified Items

Gross margin on a GAAP basis for the nine months ended September 30, 2007 was 68.4%, which included specified items of $46 million and had a 0.3% adverse impact on gross margin in aggregate. On a non-GAAP basis, for the nine months ended September 30, 2007 gross margin was 68.7%. On a non-GAAP basis, based on historical trends in 2006 and for the nine months ended September 30, 2007 the Company projects gross margin for the full year 2007 to be at least 100 basis points higher than 2006 and for the full year 2008 to improve slightly compared to the full year 2007 estimate. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on gross margin. See Gross Margin non comparable tab.

Research and development expenses on a GAAP basis for the nine months ended September 30, 2007 were $2,412 million, which included specified items of $157 million. On a non-GAAP basis, for the nine months ended September 30, 2007 research and development expenses were $2,255 million. On a non-GAAP basis, based on historical trends in 2006 and for the nine months ended September 30, 2007 the Company projects research and development expenses for the full year 2007 to increase in the mid single digit range compared to 2006 and for the full year 2008 to increase in the mid single digit range compared to the full year 2007 estimate. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on research and development. See R&D non comparable tab.

The effective tax rate on a GAAP basis for the nine months ended September 30, 2007 was 19.7%, which included specified items of $2 million in the tax provision, and had a 0.1% favorable impact on the effective tax rate in aggregate. On a non-GAAP basis, for the nine months ended September 30, 2007 effective tax rate was 19.8%. On a non-GAAP basis, based on historical trends in 2006 and for the nine months ended September 30, 2007 the Company projects effective tax rate for the full year 2007 to be in the 20% range and for the full year 2008 to be in the 22% to 24% range. There is no reasonably accessible or reliable comparable GAAP measure for this forward-looking information on the tax rate. See Tax Rate non comparable tab.

The GAAP results for the full year 2007 and 2008 would include specified items that may occur and impact results, including restructuring and other charges that cannot be reasonably estimated at this time in connection with the Company's comprehensive cost reduction programs, including charges relating to workforce reductions and the rationalization of some facilities. While the amount and timing of these restructuring and other charges cannot be reasonably estimated at this time, the Company expects that the charges are likely to be incurred over the next three years and are reasonably likely to be material. These specified items could also include charges and recoveries relating to significant legal proceedings, debt retirement costs and other charges related to new transactions, upfront and milestone payments, copromotion or alliance charges and charges for in-process research and development related to new external development transactions, gains or losses from asset disposals, restructuring activities and significant tax events. For a fuller discussion of certain of the litigation and other matters that could impact full year GAAP results, as well as the use of non-GAAP financial information, see Bristol-Myers Squibb Company Reports Financial Results For The Third Quarter of 2007, October 25, 2007, including “Outlook for 2007 and 2008” and “Use of Non-GAAP Financial Information” therein.

16

BRISTOL-MYERS SQUIBB COMPANY

ESTIMATED MONTHS ON HAND OF TOP 15 U.S. PHARMACEUTICAL PRODUCTS

IN THE U.S. WHOLESALER DISTRIBUTION CHANNEL

The following tables sets forth, for each of the Company’s top 15 pharmaceutical products (based on 2006 annual net sales) sold by the Company's U.S. Pharmaceuticals business, the U.S. Pharmaceuticals net sales and the estimated number of months on hand of the applicable product in the U.S. wholesaler distribution channel for the quarters ended September 30, 2007 and 2006 and June 30, 2007 and 2006.

	September 30, 2007				September 30, 2006			June 30, 2007			June 30, 2006
	Net Sales			Months on Hand	Net Sales		Months on Hand	Net Sales		Months on Hand	Net Sales		Months on Hand
	(Dollars in Millions)				(Dollars in Millions)			(Dollars in Millions)			(Dollars in Millions)
Abilify (total revenue)	$	329		0.4	$	260	0.5	$	322	0.4	$	267	0.5
Avapro/Avalide		176		0.4		159	0.4		170	0.4		167	0.5
Baraclude		22		0.5		14	0.6		20	0.7		9	0.7
Coumadin		40		0.6		45	0.7		43	0.7		46	0.8
Erbitux(a)		183		0.3		173	0.5		160	0.4		172	—
Glucophage Franchise		17		0.6		20	0.7		17	0.6		22	0.6
Kenalog		20		0.6		19	0.8		26	0.5		22	0.8
Orencia(b)		57		0.4		34	0.8		53	0.5		18	0.3
Paraplatin		(1	)	25.0		5	1.5		1	17.5		2	1.7
Plavix		1,080		0.4		474	1.5		1,015	0.4		988	0.5
Pravachol		17		0.7		73	1.0		47	0.5		128	1.0
Reyataz		141		0.5		129	0.5		138	0.6		122	0.6
Sprycel		17		0.7		11	1.2		14	0.8		—	—
Sustiva Franchise(c) (total revenue)		151		0.6		128	0.5		147	0.7		115	0.5
Zerit		13		0.7		19	0.7		15	0.7		18	0.7

For all products other than Erbitux and Orencia, the Company determines the above months on hand estimates by dividing the estimated amount of the product in the U.S. wholesaler distribution channel by the estimated amount of out-movement of the product from the U.S. wholesaler distribution channel over a period of 31 days, all calculated as described below. Factors that may influence the Company's estimates include generic competition, seasonality of products, wholesaler purchases in light of increases in wholesaler list prices, new product launches, new warehouse openings by wholesalers and new customer stockings by wholesalers. In addition, such estimates are calculated using third-party data, which represent their own record-keeping processes and as such, may also reflect estimates.

Estimates of product in the wholesaler distribution channel and out-movement are based on weekly information received directly from third-parties, and excludes any inventory held by intermediaries such as retailers and hospitals, and excludes goods in transit to such wholesalers. The Company determines the amount of out-movement of a product over a period of 31 days by using the most recent out-movement of a product as provided by these third parties, adjusted to reflect the Company's estimate of goods in transit to these wholesalers. The Company estimates the amount of goods in transit by using information provided by these wholesalers with respect to their open orders and the Company's records of sales to these wholesalers with respect to such open orders.

(a) The Company sells Erbitux to intermediaries (such as wholesalers and specialty oncology distributors) and ships Erbitux directly to the end-users of the product who are the customers of those intermediaries. The Company also sells Erbitux to other distributors who then hold Erbitux inventory. The above estimate of months on hand was calculated by dividing the inventories of Erbitux held by the distributors for their own accounts as reported by the distributors as of the end of the quarter by the out-movements of the product reported by the distributors over the last 31 day period. The inventory levels reported by the distributors are a product of their record-keeping process.

(b) The Company distributes Orencia through distribution arrangements with multiple distributors. The above estimates of months on hand was calculated by dividing the inventories of Orencia held by these distributors at the end of the quarter by the out-movement of the product over the last 31 day period, as reported by these distributors. The inventory on hand and out-movements reported by these distributors are a product of the distributors’ own record-keeping processes.

(c) Beginning in the third quarter of 2006, Sustiva Franchise includes sales of Sustiva, as well as revenue of bulk efavirenz included in the combination therapy, Atripla. The estimated months on hand of the product in the U.S. wholesale distribution channel only include branded Sustiva inventory.

17

BRISTOL-MYERS SQUIBB COMPANY

ESTIMATED MONTHS ON HAND OF TOP INTERNATIONAL PHARMACEUTICAL

AND WORLDWIDE NON-PHARMACEUTICAL PRODUCTS

The following table, which was posted on the Company's website and filed on Form 8-K on August 31, 2007, sets forth for each of the Company’s key products sold by the businesses listed below, the net sales of the applicable product for each of the quarters ended June 30, 2007, March 31, 2007, June 30, 2006 and March 31, 2006, and the estimated number of months on hand of the applicable product in the direct customer distribution channel for the business as of the end of each of the four quarters. The estimates of months on hand for key products described below for the International Pharmaceuticals business are based on data collected for all of the Company’s significant business units outside of the U.S. For the other non-Pharmaceuticals reporting segments, estimates are based on data collected for the U.S. and all significant business units outside of the U.S.

	June 30, 2007			March 31, 2007			June 30, 2006			March 31, 2006
	Net Sales		Months on Hand	Net Sales		Months on Hand	Net Sales		Months on Hand	Net Sales		Months on Hand
	(Dollars in Millions)			(Dollars in Millions)			(Dollars in Millions)			(Dollars in Millions)
International Pharmaceuticals
Abilify (total revenue)	$	90	0.6	$	73	0.6	$	57	0.6	$	52	0.6
Avapro/Avalide		127	0.5		107	0.5		113	0.5		94	0.5
Baraclude		39	0.7		28	0.7		5	1.0		2	1.1
Bufferin		27	0.5		24	0.5		31	0.5		22	0.6
Capoten		25	0.9		26	0.8		31	0.9		35	0.8
Dafalgan		42	1.4		44	1.2		37	1.1		37	1.4
Efferalgan		69	1.4		81	1.1		62	0.9		68	1.2
Maxipime		39	0.8		29	0.5		43	0.8		40	0.8
Monopril		42	1.2		36	0.8		48	1.1		46	1.1
Orencia		2	0.4		1	0.3		—	—		—	—
Perfalgan		65	0.5		58	0.5		51	0.6		46	0.6
Plavix		174	0.6		151	0.5		157	0.5		136	0.5
Pravachol		85	0.6		78	0.6		195	1.4		234	1.5
Reyataz		116	0.7		120	0.9		114	0.7		88	0.6
Sprycel		21	0.4		11	0.4		—	—		—	—
Sustiva Franchise(a)		86	0.5		82	0.5		78	0.5		67	0.5
Taxol		91	0.6		107	0.7		145	0.5		143	0.6
Videx/Videx EC		27	1.1		27	1.1		35	1.2		31	0.8
Nutritionals
Enfamil/Enfagrow		337	0.9		326	0.8		312	0.9		304	0.9
Nutramigen		54	1.0		52	0.9		54	1.0		48	1.0
Other Health Care
ConvaTec
Ostomy		150	0.9		130	0.9		141	1.0		123	0.9
Wound Therapeutics		119	0.9		107	0.9		107	0.9		98	0.9
Medical Imaging
Cardiolite		106	0.7		99	0.7		105	0.8		103	0.8

(a) Beginning in the third quarter of 2006, Sustiva Franchise includes sales of Sustiva, as well as revenue of bulk efavirenz included in the combination therapy, Atripla. The estimated months on hand of the product in the distribution channel only include branded Sustiva inventory.

The above months on hand information represents the Company’s estimates of aggregate product level inventory on hand at direct customers divided by the expected demand for the applicable product. Expected demand is the estimated ultimate patient/consumer demand calculated based on estimated end-user consumption or direct customer out-movement data over the most recent 31 day period or other reasonable period. Factors that may affect the Company’s estimates include generic competition, seasonality of products, direct customer purchases in light of price increases, new product or product presentation launches, new warehouse openings by direct customers, new customer stockings by direct customers and expected direct customer purchases for governmental bidding situations.

18