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GlaxoSmithKline acquires generics business of Bristol Myers Squibb

Posted on: Fri, 03 Jul 2009 14:40:00 EDT

Symbols: GSK, BMY

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Jul 03, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
GSK | Quote | Chart | News | PowerRating -- GlaxoSmithKline plc (GSK), a UK-based pharmaceutical and healthcare company, has acquired the branded generics business of Bristol-Myers Squibb Company in Lebanon, Jordan, Syria, Libya, and Yemen for GBP14.2 million in cash. The business comprises a portfolio of 13 branded pharmaceuticals. Bristol-Myers Squibb is a US-based pharmaceuticals company.

BMS will continue to supply the acquired products until 2011 when it is anticipated that manufacture will transfer to GSK's Giza plant.

Deal Value (US$ Million) 23.2
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Completed: 2009-07-02

Deal Participants

Target (Company)   Bristol-Myers Squibb Company - Generics Business
Acquirer (Company) GlaxoSmithKline plc
Vendor (Company)   Bristol-Myers Squibb Company

Deal Rationale

The acquisition represents GSK's strategy to accelerate growth in the emerging markets and extends its product portfolio in the Middle East and North Africa.

For full details on GlaxoSmithKline (GSK) GSK. GlaxoSmithKline (GSK) has Short Term PowerRatings at TradingMarkets. Details on GlaxoSmithKline (GSK) Short Term PowerRatings is available at This Link.

For full details on Bristol-Myers Squibb Co (BMY) BMY. Bristol-Myers Squibb Co (BMY) has Short Term PowerRatings at TradingMarkets. Details on Bristol-Myers Squibb Co (BMY) Short Term PowerRatings is available at This Link.

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