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Bufferin, Excedrin sale in Asia

This article was originally published in The Tan Sheet

Executive Summary

Bristol-Myers Squibb plans to sell its Bufferin and Excedrin pain relief brands in Asia (excluding China and Taiwan) and certain Oceanic countries to Japanese firm Lion Corporation for approximately $250 mil. (¥30.4 bil.), BMS announces June 29. Expected to close during the third quarter pending regulatory approvals, the deal will allow BMS to "focus on its strategic priorities in developing its pipeline and new product opportunities in disease areas of significant unmet need," the firm notes. BMS sold its Consumer Medicines businesses, including the Bufferin and Excedrin brands, in the U.S., Canada and other markets to Novartis AG in 2005 (1"The Tan Sheet" Sept. 5, 2005, In Brief). In a separate agreement, BMS and Lion have agreed to the dissolution of the firms' medicines joint venture...

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