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Wednesday, Oct 3
2012, 5:02 AM
Bristol-Myers (BMY) is returning its share of global rights to blood thinner Plavix and blood...
Bristol-Myers (BMY) is returning its share of global rights to blood thinner Plavix and blood pressure treatment Avalide to Sanofi (SNY) following the loss of patent protection for the drugs, although the American firm will retain U.S. and Puerto Rico rights to Plavix. BMY will receive royalties until 2018 and then a $200M terminal payment, although it's paying $80M to Sanofi over supply disruption to Avalide in the U.S. in 2011. (PR)