Bristol-Myers gets $1.6 billion offer for French consumer health unit

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3 years ago

December 19, 2018

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Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau

(Reuters) – Bristol-Myers Squibb Co (BMY.N) received an offer from Japanese healthcare firm Taisho Pharmaceutical Holdings Co Ltd (4581.T) to buy the company’s French over-the-counter drugs business UPSA for $1.6 billion, the companies said on Wednesday.

The offer by Taisho is structured in the form of a “put option” agreement, the companies said.

Bristol-Myers said it estimates the potential deal would be approximately $0.04 dilutive to 2019 earnings.

Reporting by Rama Venkat in Bengaluru; Editing by Sunil Nair

Our Standards:The Thomson Reuters Trust Principles.