Free Newsletter
| Get the pharma industry's daily monitor, with a special focus on pharmaceutical company news and the market development of FDA approved products. Sign up for free today! |
BMS offloads imaging unit for $525M
Bristol-Myers Squibb said it was going to retrench, and so it is. The company announced this morning that it would sell its medical imaging unit to the private equity firm Avista Capital Partners for about $525 million. BMS says it wants to focus more narrowly on biopharma, which doesn't include medical imaging. Plus, the unit's biggest product, Cardiolite, faces generic competition after its key patent expires next year.
The sale is part of a company-wide restructuring that includes 4,300 layoffs; BMS hopes to save $1.5 billion a year from cuts in jobs and manufacturing.
- take a look a this release from BMS
- read this article for more
Related Articles:
BMS cuts 4,800 jobs. Report
BMS starts laying off workers. Report
BMS to unveil (big?) layoffs. Report
Bristol CEO: Job cuts, shutdowns continue. Report
Be the first to comment
Comments
Post new comment
Paid Research Reports
- RNA therapy: the next big thing after monoclonal antibodies?
- Biotech M&A Strategies: Deal assessments, trends and future prospects
- The Dermatology Market Outlook to 2013: Competitive landscape, pipeline analysis and growth opportunities
- Pipeline Insight: Cancer Overview - Breast, Gynecological, Genitourinary - Diverse drugs approaching the market for many tumor t
- Sales Force Effectiveness
