Bristol-Myers Squibb agrees sale of North American consumer medicines business
Bristol-Myers Squibb has now signed a definitive agreement for the sale of its US and Canadian Consumer Medicines business and related assets to Novartis.
Bristol-Myers Squibb has now signed a definitive agreement for the sale of its US and Canadian Consumer Medicines business and related assets to Novartis.
Under the terms of the agreement, Novartis will acquire the trademarks, patents and intellectual property rights of the business and related assets for US$660m. The transaction is subject to customary regulatory approvals and is expected to close by the end of the third quarter.
The transaction includes rights to Excedrin, Keri, Comtrex, 4-Way, Bufferin, Vagistat, No-Doz and Mineral Ice in the US and Canada. It also includes rights to the US otc brands in Latin America, Europe, Middle East and Africa, limited rights to Moisturel and Lac-Hydrin in Canada, and rights to several dormant trademarks. Net sales of these brands in the US and Canada were $242m in 2004. Net sales of the US otc brands in Latin America, the Middle East, Europe and Africa totalled $16m in 2004.
The balance of B-MS's local and regional consumer medicines businesses in its international markets are not included. Manufacturing facilities are also not part of the divestiture.