NEW YORK, June 29 /PRNewswire-FirstCall/ -- Bristol-Myers Squibb
Company (NYSE: BMY) has signed an agreement for the sale of the Bufferin(R)
and Excedrin(R) brands in Japan, Asia (excluding China and Taiwan) and
certain Oceaniac countries to Lion Corporation (Japan). Terms of the
agreement include a cash settlement of 30.4 billion yen (approximately $250
million U.S.) to be paid by Lion Corporation to Bristol-Myers Squibb. It is
expected that this transaction will be completed during the third quarter
of 2007, pending certain regulatory approvals.
In a separate agreement, the parties have agreed to the dissolution of
Bristol-Myers Lion Ltd., the consumer medicines joint venture between
Bristol- Myers Squibb and Lion Corporation.
The divestiture of the Bufferin and Excedrin brands will further enable
Bristol-Myers Squibb to focus on its strategic priorities in developing its
pipeline and new product opportunities in disease areas of significant
unmet medical need. Bristol-Myers Squibb sold its Consumer Medicines
businesses, including the Bufferin and Excedrin brands, in the United
States, Canada and other international markets in 2005.
Bristol-Myers Squibb is a global pharmaceutical and related health care
products company whose mission is to extend and enhance human life.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains "forward-looking statements" as that term
is defined in the Private Securities Litigation Reform Act of 1995,
regarding an agreement for the sale of certain products. Such
forward-looking statements are based on current expectations and involve
inherent risks and uncertainties, including factors that could delay,
divert or change any of them, and could cause actual outcomes and results
to differ materially from current expectations. No forward-looking
statement can be guaranteed. Among other risks, there can be no guarantee
that the agreement will receive regulatory approvals, or that if approved,
the transaction will be completed. Forward-looking statements in the press
release should be evaluated together with the many uncertainties that
affect Bristol-Myers Squibb's business, particularly those identified in
the cautionary factors discussion in Bristol- Myers Squibb's Annual Report
on Form 10-K for the year ended December 31, 2006, its Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K. Bristol-Myers Squibb undertakes
no obligation to publicly update any forward- looking statement, whether as
a result of new information, future events, or otherwise.
SOURCE Bristol-Myers Squibb Company
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Bristol-Myers Squibb Company
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