Bristol-Myers Squibb Acquires DuPont Pharma

October 5, 2001 — PRINCETON, NJ — Bristol-Myers Squibb has acquired Wilmington, Delaware-based DuPont Pharmaceuticals.

Under the deal, which went through earlier this month, Bristol-Myers bought the pharmaceutical business from DuPont Company for $7.8 billion in cash. The company expects to record a one-time, in-process R&D write off and restructuring liability between $2 to $3 billion.

“The acquisition of DuPont Pharma will make Bristol-Myers Squibb an even stronger pharmaceutical company,” said Peter R. Dolan, chairman and CEO of Bristol-Myers Squibb said. “It will enable us to play a greater leadership role, particularly in the areas of virology and cardiovascular diseases, where there is a pressing need to expand treatments and find new and better therapies.”

AS a result of the acquisition, Bristol-Myers has gained a number of in-line products including: Sustive, a non-nucleoside reverse transcriptase inhibitor for the treatment of HIV/AIDS; COUMADIN, an oral blood coagulant; and Cardiolite, a cardiovascular medical imaging agent.

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