Bristol-Myers Squibb Company

Agreement signed for sale of U.S., Canadian consumer medicines business

Published in Lab Law Weekly, August 19th, 2005

Bristol-Myers Squibb Company (BMY) announced that it has signed a definitive agreement for the sale of its U.S. and Canadian Consumer Medicines business and related assets to Novartis AG (NVS).

Under the terms of the agreement, Novartis will acquire the trademarks, patents and intellectual property rights of the U.S. and Canadian Consumer Medicines business and related assets for $660 million, to be paid in cash at closing. The transaction is subject to customary regulatory approvals and is expected to close by the end of the third quarter. Bristol-Myers Squibb announced its intent to divest the business in January 2005.

The transaction includes...

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Source: Lab Law Weekly (2005-08-19)

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