BMS Completes $1.6-Billion Sale of Consumer Healthcare Business UPSABy
Bristol-Myers Squibb (BMS) has completed its previously announced divestiture of its consumer healthcare business, UPSA, to Taisho Pharmaceutical, an over-the-counter drug company in Japan, for $1.6 billion. BMS had announced the sale to Taisho in December 2018.
The divestiture is part of BMS’ strategy to simplify and realign its business portfolio to concentrate on its core focus of prescription drugs. UPSA provides consumer medicines, a product area outside of BMS’ core focus, in France, across Europe, and in additional countries, Its portfolio covers a range of therapeutic areas such as pain, cough and cold, vitamins and supplements, gastrointestinal, and sleep.
In 2009, Taisho entered the over-the-counter market in certain Asian countries through the purchase of PT Squibb Indonesia from BMS. The subsidiary of Taisho is now known as PT Taisho Pharmaceuticals Indonesia Tbk.
Source: Bristol-Myers Squibb