Bristol-Myers Squibb finalizes sale of its HIV R&D programs

Bristol-Myers Squibb announced today that it has finalized the sale of its HIV R&D portfolio to ViiV Healthcare.

The HIV R&D portfolio includes a wide range of programs, all at different phases. Some are in the research stage, while others are in pre-clinical and clinical development.

The deal was completed with ViiV Healthcare agreeing to pay Bristol-Myers Squibb $350 million. The terms of the agreement state that ViiV Healthcare will also pay Bristol-Myers Squibb possible development and landmark payments for the received experimental assets in the total of $518 million, and up to $587 million for research and pre-clinical programs.

ViiV Healthcare must also pay tiered royalties if any of the products it develops are approved for commercialization. Sales based on milestones reached for any product will result in ViiV Healthcare paying Bristol-Myers Squibb up to $750 million for clinical properties and $700 million for discovery and pre-clinical programs.

Bristol-Myers Squibb currently has HIV medications on the market, which include Reyataz, Evotaz, Sustiva and Atripla. The sale of its HIV R&D to Viiv Healthcare will not have an impact on these medicines. Bristol-Myers Squibb will remain committed to these medications and the patients who rely on them.