Bristol-Myers Squibb to sell Oncology Therapeutics Network

Published: 15-Dec-2004

Bristol-Myers Squibb has signed a definitive agreement to sell its Oncology Therapeutics Network (OTN) unit to One Equity Partners. It is expected that this transaction will be completed during the first quarter of 2005, pending certain regulatory approvals.


Bristol-Myers Squibb has signed a definitive agreement to sell its Oncology Therapeutics Network (OTN) unit to One Equity Partners. It is expected that this transaction will be completed during the first quarter of 2005, pending certain regulatory approvals.

OTN is a leading speciality distributor of pharmaceuticals to office-based oncologists. For the year ended December 31, 2003, OTN generated revenues of US$2.2bn. B-MS says the divestiture will further enable it to focus on its strategic priorities in developing its pipeline and new product opportunities in 10 disease areas of significant unmet medical need.

  

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