Kirkland & Ellis advised Bristol-Myers Squibb Company (NYSE: BMY), a global biopharmaceutical company, on its offer from Taisho Pharmaceutical Holdings Co., Ltd. (TYO: 4535) to purchase Bristol-Myers Squibb’s UPSA consumer health business for $1.6 billion. UPSA develops and delivers important consumer medicines for patients in France, across Europe and around the world. Taisho Pharmaceutical Holdings Co., Ltd is the largest over-the-counter (OTC) drug company in Japan, with over a century of experience in this field. The company holds a leading presence in anti-inflammatory analgesic, cold and flu and hair growth segments in Japan and Southeast Asia. The potential transaction would position Bristol-Myers Squibb to further refine its portfolio to focus on transformational medicines for patients facing serious diseases. The potential transaction is subject to customary closing conditions and is expected to be completed in the first half of 2019.
The Kirkland team was led by transactional partners Laura Sullivan and Daniel Wolf along with David Fox and associate Francisco Morales Barron. The team also included finance partners Stephen Lucas and Leon Daoud; technology & IP transactions partner Lisa Samenfeld and associate Ashley Eisenberg; tax partner Sara Zablotney; antitrust & competition partner Mark Gardner and corporate associate Kristin Rulison. The Bristol-Myers Squibb in-house legal team included Joseph Campisi, Senior Vice President and Deputy General Counsel, Transactional Practice Group; and Christophe Beauduin, Senior Corporate Counsel, Transactional Practice Group.