• July 2, 2007

Bristol-Myers Squibb Company, as part of its effort to jettison its consumer medicines business, has signed a $250 million agreement for the sale of the Bufferin and Excedrin brands in Japan, Asia (excluding China and Taiwan) and certain Oceanic countries to Japan-based Lion Corporation.

It is expected that this transaction will be completed during the third quarter of 2007, pending certain regulatory approvals. The parties have also agreed to dissolve the Bristol-Myers Lion Ltd. joint venture.

Bristol-Myers Squibb said the divestiture of Bufferin and Excedrin will allow the company to focus on its new-products pipeline in specific disease areas. Bristol-Myers Squibb sold its consumer medicines businesses, including the Bufferin and Excedrin brands, in the United States, Canada and other international markets in 2005.--Karl Greenberg