aibioBristol Myers Squibb details Texas Plavix suit, Arkansas 340B complaint and Celgene settlement
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Bristol Myers Squibb's 10-Q says the company and certain Sanofi entities are defendants in a Texas state suit over Plavix labeling, sales and promotion. Arkansas has sued BMS over 340B contract pharmacy policies, and a Celgene securities class action settled with final approval in May 2026.
Key facts
- Company
- Bristol-Myers Squibb Company (NYSE: BMY)
- News type
- Legal
- Primary source
- Bristol Myers Squibb 10-Q for the quarter ended June 30, 2026 (SEC EDGAR)
Bristol Myers Squibb (NYSE: BMY) said in its 10-Q filed July 30, 2026 that it is a defendant in a Texas state court action over the labeling, sales and promotion of Plavix. The defendants are BMS and certain Sanofi entities. The attorney general of Texas and a qui tam relator, acting on behalf of the State of Texas, brought the case in Harrison County, Texas in November 2025.
The 10-Q does not name the Sanofi entities or the relator, gives no case number and names no individual as a defendant. It does not describe the claims or the amount the state seeks.
The Texas Plavix case
The case was removed to the U.S. District Court for the Eastern District of Texas, then remanded to state court in Harrison County in March 2026. Also in November 2025, BMS and certain Sanofi entities sued the Texas attorney general in state court in Travis County, Texas, seeking to enjoin the attorney general's lawsuit. In April 2026 the Travis County court abated that suit pending disposition of the Harrison County case. No trial dates have been scheduled in either case.
Arkansas 340B suit
In July 2026 the Arkansas attorney general, on behalf of the State of Arkansas, filed a complaint in the Circuit Court of Polk County, Arkansas against BMS, other pharmaceutical manufacturers and a non-manufacturer technology vendor. The complaint alleges that the defendants' policies conditioning 340B program drug discounts on the use of a limited number of contract pharmacies, or on the submission of claims and other utilization data, violate the Arkansas Deceptive Trade Practices Act. It seeks civil penalties and injunctive relief. The 10-Q names neither the other manufacturers nor the vendor.
The Arkansas case adds to a 340B dispute in which BMS lost at the trial court level. On November 26, 2024, BMS sued Carole Johnson, Administrator of the Health Resources and Services Administration, and Xavier Becerra, U.S. Secretary of Health and Human Services, over HRSA's determination that BMS could not use a cash rebate model for the 340B program. In May 2025 the U.S. District Court for the District of Columbia granted HRSA summary judgment on BMS's claims. BMS appealed to the U.S. Court of Appeals for the District of Columbia Circuit, which heard oral argument in November 2025.
The Celgene class action
The 10-Q also describes a securities case against Celgene, which is now part of BMS. Beginning in March 2018, two putative class actions were filed against Celgene and certain of its officers and employees in the U.S. District Court for the District of New Jersey. The complaints alleged that the defendants violated federal securities laws, and the court consolidated the two actions. The 10-Q does not name the individual defendants.
In December 2019 the court granted in part and denied in part the defendants' motion to dismiss. In November 2020 it certified a class of Celgene common stock purchasers between April 27, 2017 and April 28, 2018. After discovery, the court granted summary judgment in part and denied it in part. The parties reached a settlement in principle in September 2025, and the court granted final approval in May 2026. The 10-Q does not give the settlement amount or say who paid it.
What the company says
BMS says it is vigorously defending the proceedings in which it is named as a defendant and believes it has substantial claims or defenses in each matter. It does not believe any of them will have a material adverse effect on its financial position or liquidity, though it says they could be material to its results of operations in a given period.
The 10-Q says contingency accruals are recorded only when a liability is probable and the loss can be reasonably estimated. It gives no loss estimate for the Texas or Arkansas cases.
Total revenues were $12,973 million in the second quarter of 2026, against $12,269 million a year earlier, and net earnings attributable to BMS were $3,317 million. Revlimid revenues, a Celgene product, fell 49% in the quarter, which the company attributes mainly to generic erosion in the U.S.