1. In Vivo
  2. >>Business Strategy

Bristol Spins Off Mead Johnson in Stock Swap, Finally Pure Biopharma

Bristol has finalized its strategy to focus on biopharmaceuticals by swapping its 83% stake in Mead Johnson Nutritionals for BMS shares. The move will not raise cash but the buyback structure of the deal will improve BMS's cash flow and increase earnings per share ahead of its impending Plavix/Avapro patent cliff.

While some large drugmakers have been hedging their pharmaceutical bets by diversifying into areas like animal health and consumer health, Bristol-Myers Squibb Co. is going all-in on its wager on biopharma. The company announced on November 15 its plans to split off its 83.1% holdings in Mead Johnson Nutrition Co., its last diversified business. [See Deal] The move will provide short-term financial gain for BMS at the expense of losing an element of stability afforded by its arms-length relationship with Mead.

In the stock swap transaction, Bristol investors who choose to tender their shares will receive approximately $1.11 of Mead Johnson...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business Strategy

Podcast: “They Are Able To Keep Their Body”: Medipost On Its Stem Cell Therapy Vision

 
• By Anabel Costa-Ferreira

In Vivo spoke with Edward Ahn, CEO of Medipost, a Korean company that has developed stem cell therapies from cord blood, on how they are working across regulatory markets to provide a novel treatment for degenerative diseases.

Can Italy Shake Off Its Reputation And Become A Premier Hub For Biotech?

 
• By Barnaby Pickering

Leading industry experts have spoken to In Vivo about how investment, a change in mindset and a fresh approach to policy may allow Italy to kick-start its biotech ecosystem.

Rising Leaders 2025: Abbas Kazimi’s Vision For Nimbus Therapeutics

 
• By David Wild

Rising Leader Abbas Kazimi's leadership at Nimbus Therapeutics combines immigrant resilience, patient-first partnerships, contrarian strategic bets and a deeply personal mission driving breakthrough drug discovery innovation.

AI In Biologics Discovery: The Expensive Bet On Unproven Promise

 
• By David Wild

Despite limited evidence of commercial impact, pharmaceutical companies are making massive strategic investments in AI biologics platforms. The question isn't whether the technology shows promise; it's whether that promise can translate to measurable business results.

More from In Vivo

Rising Leaders 2025: Abbas Kazimi’s Vision For Nimbus Therapeutics

 
• By David Wild

Rising Leader Abbas Kazimi's leadership at Nimbus Therapeutics combines immigrant resilience, patient-first partnerships, contrarian strategic bets and a deeply personal mission driving breakthrough drug discovery innovation.

Trojan Bio Eyes Perfect Rainbow Shot With Immune System Cancer Innovations

 
• By Ashley Yeo

Trojan Bio’s proprietary platform, based on engineered antibodies that activate the immune system to fight cancer in the same way as common viral infections, won Biomed Israel's 2025 biopharma start-up award. CEO and cofounder Anat Burkovitz said the technology is attracting investors' attention.

Deals In Depth: June 2025

 
• By Deanna Kamienski and Maureen Riordan

Five $1bn+ alliances were penned in June, and four exceeded $2bn.