Bristol-Myers Squibb is a global biopharmaceutical company that discovers, develops, and sells innovative medicines for serious diseases, including oncology immunotherapies, anticoagulants, immunology treatments, and cell therapies. The company generates revenue primarily through branded pharmaceutical sales to patients, healthcare providers, payers, and wholesalers worldwide, with a significant international presence. BMS maintains a large pipeline of new products and indications through internal research and development, licensing, acquisitions, and strategic collaborations, while also earning royalty income from third-party compounds; however, the business faces structural challenges including government price controls and regulatory restrictions, generic and biosimilar competition that causes rapid revenue declines upon patent expiration, and the need for continuous substantial R&D investment to sustain profitability as older drugs lose market exclusivity.