Bristol-Myers
Squibb Company (NYSE:BMY) today announced that it has completed the
previously announced sale of its HIV R&D portfolio to ViiV Healthcare,
which includes a number of programs at different stages of discovery,
preclinical and clinical development.
Bristol-Myers Squibb received from ViiV Healthcare a payment of $350
million in connection with the closing. Under the terms of the
transaction agreements, Bristol-Myers Squibb will also receive from ViiV
Healthcare potential development and regulatory milestone payments of up
to $518 million for the clinical assets, and up to $587 million for the
discovery and pre-clinical programs. If and when products are approved
and commercialized, ViiV Healthcare will pay tiered royalties.
Additionally, ViiV Healthcare will pay sales-based milestone payments of
up to $750 million for each of the clinical assets and up to $700
million for each of the discovery and pre-clinical programs.
The agreements with ViiV Healthcare do not impact Bristol-Myers Squibb’s
marketed HIV medicines, including Reyataz,
Evotaz,
Sustiva
and Atripla.
Bristol-Myers Squibb remains committed to the commercialization of these
products and to those patients who rely on these medicines.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information about
Bristol-Myers Squibb, visit us at BMS.com
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and YouTube.
Bristol-Myers Squibb Forward Looking Statement
This press release contains “forward-looking statements” as that term
is defined in the Private Securities Litigation Reform Act of 1995
regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are based on
current expectations and involve inherent risks and uncertainties,
including factors that could delay, divert or change any of them, and
could cause actual outcomes and results to differ materially from
current expectations. No forward-looking statement can be guaranteed.
Forward-looking statements in the press release should be evaluated
together with the many uncertainties that affect Bristol-Myers Squibb's
business, particularly those identified in the cautionary factors
discussion in Bristol-Myers Squibb's Annual Report on Form 10-K for the
year ended December 31, 2015, its Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no
obligation to publicly update any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Bristol-Myers SquibbMedia:Sarah Koenig, 609-252-4145sarah.koenig@bms.comorRob Perry, 609-419-5378rob.perry@bms.comorInvestors:Ranya Dajani, 609-252-5330ranya.dajani@bms.comorBill Szablewski, 609-252-5894william.szablewski@bms.com