Bristol-Myers
Squibb Company (NYSE:BMY) today announced that it has completed the
previously announced sale of its global diabetes business to AstraZeneca.
Bristol-Myers Squibb received from AstraZeneca a payment of
approximately $2.7 billion in connection with the closing, and will
receive by mid-February, a $0.6 billion milestone payment from the
recent U.S. approval of Farxiga (dapagliflozin). Under terms of
the agreement, Bristol-Myers Squibb will also receive from AstraZeneca
potential regulatory and sales-based milestone payments of up to $0.8
billion, and royalty payments based on net sales through 2025. In
addition, AstraZeneca will make payments of up to $225 million if and
when certain assets are subsequently transferred.
The transaction includes the rights to Bristol-Myers Squibb’s global
diabetes business that was part of its collaboration with AstraZeneca,
the former Amylin manufacturing facility in West Chester, Ohio, and also
covers the future purchase by AstraZeneca of Bristol-Myers Squibb’s
Mount Vernon, Indiana, manufacturing facility, no earlier than 18 months
following the closing date. The closing of the transaction as it relates
to China remains subject to the satisfaction of certain conditions in
the Sino-American Shanghai Squibb Pharmaceutical Company joint venture
agreement between Bristol-Myers Squibb China and its joint venture
partners.
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, please
visit www.bms.com
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Bristol-Myers Squibb CompanyMedia:Laura Hortas, 609-252-4587laura.hortas@bms.comorKen Dominski, 609-252-5251ken.dominski@bms.comorInvestors:John Elicker, 609-252-4611john.elicker@bms.comorRanya Dajani, 609-252-5330Ranya.dajani@bms.comorRyan Asay, 609-252-5020ryan.asay@bms.com