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ACQUISITIONS, DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS
 6 Months Ended
Jun. 30, 2024
Acquisitions, Divestitures and Other Arrangements [Abstract]  
ACQUISITIONS, DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS ACQUISITIONS, DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS
Divestitures

The following table summarizes the financial impact of divestitures including royalties, which are 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 millions202420232024202320242023
Diabetes business - royalties
$265 $185 $— $— $(265)$(218)
Mature products and other— 3 — — — — 
Total$265 $188 — $— $(265)(218)
Six Months Ended June 30,
Net ProceedsDivestiture (Gains)/LossesRoyalty Income
Dollars in millions202420232024202320242023
Diabetes business - royalties
$496 $401 $— $— $(536)$(406)
Mature products and other— 7 — — — — 
Total$496 $408 — $— $(536)(406)
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 millions2024202320242023
Keytruda* royalties
$(137)$(284)$(270)$(563)
Tecentriq* royalties
(11)(24)(23)(54)
Contingent milestone income(25)(5)(25)(36)
Amortization of deferred income(12)(15)(24)(27)
Other royalties and licensing income (6)(12)(10)(23)
Royalty and licensing income$(191)$(340)$(352)$(703)

Keytruda* Patent License Agreement
BMS and Ono are parties to a global patent license agreement with Merck related to Merck's PD-1 antibody Keytruda*. Under the agreement, Merck paid ongoing royalties on global sales of Keytruda* of 6.5% through December 31, 2023 and is obligated to pay 2.5% from January 1, 2024 through December 31, 2026. The companies also granted certain rights to each other under their respective patent portfolios pertaining to PD-1. Payments and royalties are shared between BMS and Ono on a 75/25 percent allocation, respectively, after adjusting for each party's legal fees.