Bristol-Myers Squibb Company was incorporated under the laws of the State of Delaware in August 1933 under the name Bristol-Myers Company, as successor to a New York business started in 1887. In 1989, Bristol-Myers Company changed its name to Bristol-Myers Squibb Company as a result of a merger. We are engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis. Refer to the Summary of Abbreviated Terms at the end of this 2018 Form 10-K for terms used throughout the document.
U.S. revenues increased due to higher demand for Eliquis, Opdivo and Yervoy. Average U.S. net selling prices were approximately 2% higher after discounts, charge-backs and rebates in the three months ended March 31, 2019 and are expected to be roughly flat on a full year basis.
Europe revenues increased due to higher demand for Opdivo and Eliquis, partially offset by unfavorable foreign exchange and lower average net selling prices.
Rest of the World revenues remained unchanged as higher demand for Opdivo, Eliquis and Yervoy was offset by unfavorable foreign exchange and lower demand for established brands.