Bristol-Myers Squibb to sell OTC assets in Asia Pacific to Taisho Pharma for $310 mn

Bristol-Myers Squibb Company has reached an agreement for the sale of its OTC assets in Asia Pacific (excluding China and Japan) to Taisho Pharmaceutical Co, Ltd (Taisho). 

Pursuant to the terms of the definitive agreement, Taisho will acquire from Bristol-Myers Squibb certain product registrations, trademarks and related assets of selected pharmaceutical and over-the-counter products sold primarily in Indonesia, Thailand and The Philippines, as well as in other countries in the Asia Pacific region, including the rights to the Tempra, Counterpain, Theragran-M, Engran, Ceetrus and Keri brands. 

The transaction also includes Bristol-Myers Squibb's 97.97 per cent stake in PT Bristol-Myers Squibb Indonesia Tbk, and the land, buildings, product registrations, intellectual property, fixed assets, inventory and other related assets owned by BMSI as of the closing date. The aggregate purchase price to be paid by Taisho is $310 million. The closing of the transaction is expected to occur during the fourth quarter of 2009.