|
Academic/Biomedical Research
News & Jobs
|
|
|
|
|
|
|
|
|
|
|
|
|
Free Newsletters
Archive
My Subscriptions
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers
Regional News
US & Canada
Biotech Bay
Biotech Beach
Genetown
Pharm Country
BioCapital
BioMidwest
Bio NC
BioForest
Southern Pharm
BioCanada East
US Device
Europe
Asia
Company Profiles
Research Store
Research Events
Post an Event
Real Estate
Business Opportunities
|
|
|
|
|
News | News By Subject | News by Disease |
News By Date | Search News
|
|
|
Bristol-Myers Squibb Company (BMY) Seeks Buyer for Brands in Mexico, Brazil, Deal May Fetch Around $750 Million
2/1/2013 7:08:40 AM
Bristol-Myers Squibb Co. (BMY) is seeking a buyer for a collection of brands in Mexico and Brazil that could fetch as much as $750 million, according to people familiar with the matter, a deal that would highlight the strong demand from corporate acquirers for consumer health assets around the world. The New York-based healthcare giant is in the late stages of an auction of the brands, with a small handful of U.S. and European drug and consumer companies still in the bidding, according to people familiar with the matter. It's unclear which bidders are still in the running for the business. A deal could be reached in the next two to three weeks, the people said. A spokeswoman for Bristol said, "We don't comment on rumors and speculation." The brands, such as a pain reliever similar to Tylenol called Tempra that is sold in Mexico, together generate sales of just $100 million to $150 million per year, one of the people said. But, according to this person and others, the winning bidder may pay in the neighborhood of five times that, a lofty multiple compared with the average takeover deal--highlighting the desirability of established consumer brands in economies with higher growth potential like Mexico and Brazil. Bristol, which has a market value of nearly $60 billion, derives most of its roughly $18 billion of annual sales from drugs such as the Erbitux cancer treatment.
|
|
|
|
|
|
|
|
|
|
|