ASSETS HELD-FOR-SALE

12 Months Ended

Dec. 31, 2015

ASSETS HELD-FOR-SALE [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

ASSETS HELD-FOR-SALE

In December 2015, BMS agreed to sell its pipeline of investigational HIV medicines to ViiV Healthcare which includes a number of programs at different stages of discovery, preclinical and clinical development. The transaction excludes BMS’s HIV marketed medicines. Certain BMS employees will be offered the opportunity to transfer to ViiV Healthcare and BMS will provide certain R&D and other services over a transitional period. The transaction is expected to close in the first half of 2016 upon obtaining customary regulatory approvals and will be accounted for as a sale of a business.

Consideration includes an upfront payment of $350 million, contingent development and regulatory milestone payments of up to $1.1 billion, sales-based milestone payments of up to $4.3 billion and future royalties if the products are approved and commercialized. BMS will also be reimbursed for the R&D and other services.

Assets held-for-sale were $134 million at December 31, 2015, comprising primarily of goodwill related to the investigational HIV business and the business comprising an alliance with Reckitt. Assets held-for-sale were $109 million at December 31, 2014, comprising of inventory, goodwill and other intangible assets related to the businesses comprising the alliances with The Medicines Company and Valeant. The allocation of goodwill was based on the relative fair value of the businesses divested to the Company's reporting unit.