Bristol-Myers gets $1.6 bn offer from Taisho

PARIS: Bristol-Myers Squibb Co received an offer from Japanese healthcare firm Taisho Pharmaceutical Holdings Co Ltd to buy the company’s French over-the-counter drugs business UPSA for $1.6 billion, the companies said. Bristol-Myers said it estimates the potential deal would be approximately $0.04 dilutive to 2019 earnings. The offer by Taisho, which has its presence in anti-inflammatory analgesic, cold and flu and hair growth segments in Japan and Southeast Asia, is structured in the form of a “put option” agreement, the companies said. Upon exercise of the put option, Taisho would acquire UPSA as well as Bristol-Myers Squibb’s assets and liabilities relating to the UPSA product portfolio. — AFP