Bristol-Myers Squibb may sell some brands in Mexico, Brazil: report
01 February 2013
Bristol-Myers Squibb is seeking a buyer for some of its brands in Mexico and Brazil, a deal that may fetch it around $750 million, The Wall Street Journal yesterday reported, citing people familiar with the matter.
The brands generate annual sales of $100 million to $150 million, but the winning bidder may pay around five times that amount due to the higher growth potential in Mexico and Brazil, the report said.
The New York-based pharmaceutical giant is in the late stages of an auction and a few US and European drug and consumer companies still in the bidding, the report added.
Bristol-Myers Squibb's over the counter (OTC) drugs in Mexico include pain reliever Tempra Adulto and Tempra Infantil for fever and pain in adult and children respectively, antacid drugs Sal de Uvas Picot and Picot Plus, and Graneodín B -a throat pain reliever.
In Brazil, the US pharma giant's portfolio includes drugs used in treatment of cancer, HIV / AIDS, depression, viral infections, dermatological complaints, as well as nutritionals, vitamins and medical devices.
Its subsidiary, Mead Johnson Nutritionals, is also present in Brazil and distributes nutritional products.