Bristol-Myers Squibb completes previously announced sale of its HIV R&D portfolio to ViiV Healthcare

Bristol-Myers SquibbBristol-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.

Most Popular Now

Novartis drug Zykadia receives FDA Priority Review…

Novartis today announced that the US Food and Drug Administration (FDA) accepted the Company's supplemental New Drug Application (sNDA) for filing, and granted Priority R...

Read more

Mutual Recognition promises new framework for phar…

The United States and the European Union (EU) completed an exchange of letters to amend the Pharmaceutical Annex to the 1998 U.S.-EU Mutual Recognition Agreement. Under t...

Read more

New analysis shows Novartis Entresto improves glyc…

Novartis has announced results of a new post-hoc analysis in a subgroup of patients with reduced ejection fraction heart failure (HFrEF) and diabetes suggesting that Entr...

Read more

Drugs similar to aspirin, ibuprofen could help tre…

A potentially life-saving treatment for sepsis has been under our noses for decades in the non-steroidal anti-inflammatory drugs (NSAIDs) most people have in their medici...

Read more

Novartis' Cosentyx shows almost all psoriasis pati…

Novartis has announced a new analysis showing that moderate-to-severe psoriasis patients treated with Cosentyx® (secukinumab) rapidly regain clear or almost clear skin (P...

Read more

Scientists stimulate immune system, stop cancer gr…

Researchers at the University of Illinois at Chicago report that increasing expression of a chemical cytokine called LIGHT in mice with colon cancer activated the immune ...

Read more

Potential drug candidates halt prostate and breast…

Scientists on the Florida campus of The Scripps Research Institute (TSRI) have designed two new drug candidates to target prostate and triple negative breast cancers. The...

Read more

Johnson & Johnson completes acquisition of Abb…

Johnson & Johnson (NYSE: JNJ) has completed the acquisition of Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott. The all-cash $4.325 billion acquisition w...

Read more

New England Journal of Medicine publishes long-ter…

In 2001 the U.S. Food and Drug Administration granted priority review for imatinib mesylate, sold under the name Gleevec®*, as an oral therapy for patients with chronic m...

Read more

Bristol-Myers Squibb expands focus on precision me…

Bristol-Myers Squibb Company (NYSE: BMY) announced its equity investment and plans for a research collaboration with GRAIL Inc., a life sciences company whose mission is ...

Read more

Volkswagen's excess emissions will lead to 1,200 p…

In September 2015, the German Volkswagen Group, the world's largest car producer, admitted to having installed "defeat devices" in 11 million diesel cars sold worldwide b...

Read more

Another record year for Bayer - good progress with…

Bayer had a very successful year in 2016, both strategically and operationally. Sales of the Bayer Group increased in 2016 by 1.5 percent (Fx & portfolio adj. 3.5 percent...

Read more

Pharmaceutical Companies

[ A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Z ]