Medarex, Inc. Announces Expiration of Offer to Repurchase its 2.25% Convertible Senior Notes due May 15, 2011

Medarex, Inc., a wholly owned subsidiary of Bristol-Myers Squibb Company (NYSE: BMY), announced today that its offer to repurchase its 2.25% Convertible Senior Notes due May 15, 2011 (the “Convertible Notes”) expired on October 23, 2009 pursuant to terms of the notice of change in control to holders of the Convertible Notes dated September 23, 2009.

The trustee for the Convertible Notes has advised Medarex that no Convertible Notes were tendered in the offer to repurchase.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company committed to discovering, developing and delivering innovative medicines that help patients prevail over serious diseases. For more information, please visit www.bms.com.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Convertible Notes of Medarex.