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Bristol-Myers Squibb Company Outlines Strategy and Productivity Transformation Initiative During Update to Investment Community
Date:12/5/2007

* Expects Productivity Transformation Initiative to Generate Pre-Tax Cost Savings and Avoidance of Approximately $1.5 Billion by 2010 and Incur Associated Pre-Tax Costs of $900 Million to $1.1 Billion - Reducing Total

Headcount by 10% * Announces 11% Increase in Indicative Dividend for 2008 and Declares

Quarterly Dividend * Revises 2007 Full-Year GAAP EPS Guidance to $1.15 to $1.20 and Reaffirms

Non-GAAP EPS Guidance of $1.42 to $1.47 at the high end of the range * Provides 2008 Full-Year GAAP EPS Guidance of $1.44 to $1.54 and Raises 2008 Full-Year Non-GAAP EPS Guidance from $1.60 to $1.70 to $1.65 to $1.75 * Expects Non-GAAP EPS CAGR of at Least 15% from 2007 Base Through 2010,

subject to certain assumptions

NEW YORK, Dec. 5 /PRNewswire-FirstCall/ -- During a meeting with investors today, Bristol-Myers Squibb Company (NYSE: BMY) will conduct a comprehensive review of its business and research and development operations, and outline its strategy to improve shareholder value, increase profitability and improve top line growth. The overview will provide investors with insight into how the company intends to implement its strategy and transform the company through its productivity initiative into a next-generation BioPharma company that pairs the scale and resources of a mid-sized pharmaceutical company with the entrepreneurial spirit and innovative focus of a biotech startup. The plan focuses the company's commercial and scientific units on growth areas, such as specialty and biologic medicines, while providing a framework to enhance productivity and reward entrepreneurship.

Strategic Review

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SOURCE Bristol-Myers Squibb Company
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