Sanofi and Bristol-Myers Squibb Restructure Alliance Following Patent Expirations
- Sanofi gains worldwide rights to Plavix and Avapro/Avalide from Bristol-Myers Squibb, except for Plavix in the US and Puerto Rico, effective January 2013.
- Bristol-Myers Squibb will receive royalty payments on Sanofi's global Plavix sales through 2018, culminating in a $200 million terminal payment.
- The restructuring follows patent expiration of both drugs and aims to streamline operations, with Sanofi expecting a $1.85 billion impact on net income due to generic competition.