BMS hires banks to put French OTC division on sale (€1bn)

Reuters has reported that Bristol-Myers Squibb has hired Deutsche Bank and Jefferies to look for buyers of its French division producing and marketing OTCs, worth over €1bn. The French asset delivered sales of €425m in 2017 and has 1,500 employees. Bristol-Myers Squibb one month ago informed it was about to assess strategic options for the asset, however it had not set any timescale for the plan yet. Potential bidders, according to Reuters, include Stada, Zentiva and Recordati–three companies recently acquired by private equities and operating in the OTC and generics businesses.

(Source: Reuters)