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

Suggested Articles

It’s final: England won’t be covering AZ’s quick-selling Tagrisso in previously untreated non-small cell lung cancer patients with EGFR mutatations.

Top J&J meds have managed to hang onto market share in the face of new generics and biosims, but the drugmaker expects the pain to continue in 2020.

Lonza’s search for a new CEO is expected to be wrapped up this year as the CDMO homes in on a list of veterans from outside the company.