(RTTNews.com) - Bristol-Myers Squibb Company ( BMY ) announced that Taisho Pharma, an over-the-counter drug company in Japan, has offered to purchase Bristol-Myers Squibb's UPSA consumer health business for $1.6 billion. UPSA is a French pharmaceutical company and brand owned by Bristol-Myers Squibb. It develops and delivers important consumer medicines for patients in France, across Europe and additional countries.
"Today's announcement marks the culmination of an in-depth strategic review to identify the best option to grow the UPSA business for the long-term. UPSA is a strong business that deserves the best possible opportunities for its employees and its future development. With Taisho we have found an experienced and reliable buyer," said Giovanni Caforio, CEO of Bristol-Myers Squibb.
Assuming completion, Bristol-Myers Squibb estimates the potential transaction would be approximately ($0.04) dilutive to 2019 earnings.
Read the original article on RTTNews (http://www.rttnews.com/2964040/taisho-offers-to-purchase-bristol-myers-squibb-s-upsa-consumer-health-unit.aspx)
For comments and feedback: contact email@example.com