| Disaggregation of Revenue |
The following table summarizes the disaggregation of revenue by nature: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Dollars in millions | 2025 | | 2024 | | 2025 | | 2024 | | Net product sales | $ | 11,909 | | | $ | 11,925 | | | $ | 22,794 | | | $ | 23,484 | | | Alliance revenues | 119 | | | 116 | | | 208 | | | 250 | | Other revenues | 241 | | | 160 | | | 468 | | | 332 | | | Total Revenues | $ | 12,269 | | | $ | 12,201 | | | $ | 23,470 | | | $ | 24,066 | |
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| Revenue Recognition Gross-To-Net Adjustments |
The following table summarizes GTN adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Dollars in millions | 2025 | | 2024 | | 2025 | | 2024 | | Gross product sales | $ | 22,181 | | | $ | 20,780 | | | $ | 42,054 | | | $ | 40,075 | | GTN adjustments(a) | | | | | | | | | Charge-backs and cash discounts | (3,407) | | | (2,843) | | | (6,365) | | | (5,399) | | | Medicaid and Medicare rebates | (4,516) | | | (3,864) | | | (8,356) | | | (6,948) | | | Other rebates, returns, discounts and adjustments | (2,348) | | | (2,148) | | | (4,538) | | | (4,244) | | Total GTN adjustments(b) | (10,272) | | | (8,855) | | | (19,260) | | | (16,591) | | | Net product sales | $ | 11,909 | | | $ | 11,925 | | | $ | 22,794 | | | $ | 23,484 | |
(a) Includes reductions/(increases) to GTN adjustments for product sales made in prior periods resulting from changes in estimates of $42 million and $331 million for the three and six months ended June 30, 2025 and ($19 million) and $61 million for the three and six months ended June 30, 2024, respectively. (b) Includes U.S. GTN adjustments of $9.5 billion and $17.6 billion for the three and six months ended June 30, 2025 and $8.0 billion and $14.9 billion for the three and six months ended June 30, 2024, respectively.
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| Revenue from External Customers by Products and Services |
The following table summarizes the disaggregation of revenue by product and region: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Dollars in millions | 2025 | | 2024 | | 2025 | | 2024 | Growth Portfolio | | | | | | | | | Opdivo | $ | 2,560 | | | $ | 2,387 | | | 4,824 | | | $ | 4,465 | | Opdivo Qvantig | 30 | | | — | | | 38 | | | — | | | Orencia | 963 | | | 948 | | | 1,733 | | | 1,746 | | | Yervoy | 728 | | | 630 | | | 1,351 | | | 1,213 | | | Reblozyl | 568 | | | 425 | | | 1,046 | | | 779 | | | Opdualag | 284 | | | 235 | | | 537 | | | 441 | | | Breyanzi | 344 | | | 153 | | | 607 | | | 260 | | Camzyos | 260 | | | 139 | | | 419 | | | 223 | | | Zeposia | 150 | | | 151 | | | 257 | | | 261 | | Abecma | 87 | | | 95 | | | 190 | | | 177 | | | Sotyktu | 70 | | | 53 | | | 126 | | | 97 | | Krazati | 48 | | | 32 | | | 96 | | | 53 | | Cobenfy | 35 | | | — | | | 62 | | | — | | Other Growth products(a) | 470 | | | 348 | | | 874 | | | 673 | | Total Growth Portfolio | 6,596 | | | 5,596 | | | 12,159 | | | 10,388 | | Legacy Portfolio | | | | | | | | | Eliquis | 3,680 | | | 3,416 | | | 7,245 | | | 7,136 | | | Revlimid | 838 | | | 1,353 | | | 1,774 | | | 3,022 | | | Pomalyst/Imnovid | 708 | | | 959 | | | 1,366 | | | 1,824 | | | Sprycel | 120 | | | 424 | | | 295 | | | 798 | | | Abraxane | 105 | | | 231 | | | 210 | | | 448 | | Other Legacy products(b) | 223 | | | 222 | | | 421 | | | 450 | | Total Legacy Portfolio | 5,673 | | | 6,605 | | | 11,311 | | | 13,678 | | | Total Revenues | $ | 12,269 | | | $ | 12,201 | | | $ | 23,470 | | | $ | 24,066 | | | | | | | | | | | United States | $ | 8,519 | | | $ | 8,801 | | | $ | 16,392 | | | $ | 17,277 | | International(c) | 3,481 | | | 3,224 | | | 6,590 | | | 6,414 | | Other(d) | 270 | | | 176 | | | 488 | | | 375 | | | Total Revenues | $ | 12,269 | | | $ | 12,201 | | | $ | 23,470 | | | $ | 24,066 | |
(a) Includes Augtyro, Onureg, Inrebic, Nulojix, Empliciti and royalty revenues. (b) Includes other mature brands. (c) Includes Puerto Rico. (d) Other revenues include alliance-related revenues for products not sold by BMS's regional commercial organizations.
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