v3.26.1
ACQUISITIONS, DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Acquisitions, Divestitures and Other Arrangements [Abstract]  
Divestitures
The following table summarizes the financial impact of divestitures including royalties, which is included in Other (income)/expense, net. Revenue and pretax earnings related to all divestitures were not material in all periods presented (excluding divestiture gains or losses).
Three Months Ended June 30,
Net ProceedsDivestiture (Gains)/LossesRoyalty Income
Dollars in millions202620252026202520262025
Diabetes business - royalties
$— $276 $— $— $— $(286)
Mature products and other(a)
207 1 (138)1 — — 
Total$207 $277 $(138)$1 $— $(286)
Six Months Ended June 30,
Net ProceedsDivestiture (Gains)/LossesRoyalty Income
Dollars in millions202620252026202520262025
Diabetes business - royalties$273 $552 $— $— $— $(558)
Mature products and other(a)
235 11 (162)(7)— — 
Total$508 $563 $(162)$(7)$— $(558)
(a)    Includes net cash proceeds of $164 million and a divestiture gain of $109 million related to the sale of BMS's 60% ownership stake in Sino-American Shanghai Squibb Pharmaceuticals Limited during the three months ended June 30, 2026.
Licensing and Other Arrangements
The following table summarizes the financial impact of Keytruda* royalties, Tecentriq* royalties, upfront licensing fees and milestones for products that have not obtained commercial approval, which are included in Other (income)/expense, net.

Three Months Ended June 30,Six Months Ended June 30,
Dollars in millions2026202520262025
Keytruda* royalties
$(149)$(132)$(308)$(284)
Tecentriq* royalties
(12)(11)(26)(23)
Contingent milestone income— — — (40)
Amortization of deferred income(12)(12)(24)(24)
Other royalties and licensing income
(13)(7)(23)(51)
Royalty and licensing income$(186)$(162)$(381)$(421)