Taisho Pharma: To Acquire Bristol-Myers OTC Rights In Asia
September 15 2009 - 11:00PM
Dow Jones News
Taisho Pharmaceutical Co. Ltd. (4535.TO) said Wednesday it will
buy Bristol-Myers Squibb Co.'s (BMY) over-the-counter drug brand
assets in Asia, as well as an Indonesian subsidiary of the U.S.
company, in a deal worth $310 million.
Under the agreement, Japan's largest maker of OTC pharmaceutical
products by sales will buy the New York-based drug maker's OTC
brand assets in Asia for $160 million. In addition, Taisho will
purchase a 97.97% stake in Bristol-Myers Squibb Indonesia
(SQBI.JK), which is listed in Jakarta, through a tender offer for
$150 million.
Bristol-Myers' Asian assets include Tempra, a pain relief drug,
and Counterpain, an inflammation treatment.
-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6895-7566;
kazuhiro.shimamura@dowjones.com