# Who are Bristol-Myers Squibb Company's customers? Who does Bristol-Myers Squibb Company earn revenue from?
Canonical: https://valuechain.wiki/bristol-myers-squibb · Facet: customers · Updated: 2026-09-11T18:43:29.256621+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Bristol-Myers Squibb Company's confirmed revenue counterparties include McKesson Corporation, Cencora, Cardinal Health plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 5 revenue edges, backed by 4 dated sources, 4 of them primary filings (as of 2026-09-11).

### 맥케슨 (high)  → /mckesson.md
- metric: Revenue share 36 percent · FY2025 · Gross revenue to McKesson as a share of BMS U.S. gross revenue
- note: McKesson is BMS's largest U.S. pharmaceutical wholesale customer. Gross revenue to McKesson represented 36% of BMS's U.S. gross revenue in 2025, up from 34% in 2024.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-11) https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm: "McKesson Corporation | 36% | 34% | 33%."
- [confirms] SEC EDGAR (EN, filing, published 2025-02-12) https://www.sec.gov/Archives/edgar/data/14272/000001427225000039/bmy-20241231.htm: "McKesson Corporation | 34% | 33% | 32%."

### 센코라 (high)  → /cencora.md
- metric: Revenue share 29 percent · FY2025 · Gross revenue to Cencora as a share of BMS U.S. gross revenue
- note: Cencora is BMS's second-largest U.S. pharmaceutical wholesale customer. Gross revenue to Cencora represented 29% of BMS's U.S. gross revenue in 2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-11) https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm: "Cencora, Inc. | 29% | 29% | 29%."

### 카디널 헬스 (high)  → /cardinal-health.md
- metric: Revenue share 22 percent · FY2025 · Gross revenue to Cardinal Health as a share of BMS U.S. gross revenue
- note: Cardinal Health is one of BMS's three largest U.S. pharmaceutical wholesale customers. Gross revenue to Cardinal Health represented 22% of BMS's U.S. gross revenue in 2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-11) https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm: "Cardinal Health, Inc. | 22% | 22% | 23%."

### 리제네론 (high)  → /regeneron-pharmaceuticals.md
- note: Bristol-Myers Squibb licensed patents needed to develop and sell Libtayo to Regeneron and Sanofi through its entities together with Ono Pharmaceutical, with Regeneron paying royalties to the licensor group while the portion attributable specifically to Bristol-Myers Squibb is not disclosed.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-04) https://www.sec.gov/Archives/edgar/data/872589/000087258926000008/regn-20251231.htm: "royalties of 2.5%"

### 에이비엘바이오 (mid)  → /abl-bio.md
- note: Supplies Opdivo (nivolumab) to ABL Bio's ABL111 gastric-cancer bispecific triple-combination trial; a clinical combination-supply arrangement with undisclosed value.
- [confirms] DART (FSS) (KO, filing, published 2026-03-12) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260312000744: "Signed an Opdivo supply agreement with BMS for the ABL111 triple-combination trial"

Reverse side: https://valuechain.wiki/bristol-myers-squibb/suppliers.md · Ripple: https://valuechain.wiki/bristol-myers-squibb/ripple.md

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