Sanofi and Bristol-Myers Squibb have restructured their alliance following the patent expiry of Plavix and Avapro/Avalide in many major markets. Effective January 1, 2013, BMS will return rights to Sanofi in all markets except Plavix in the U.S. and PR, giving Sanofi the freedom to operate commercially. BMS will receive royalties on Sanofi’s sales of branded and unbranded Plavix, Avapro/Avalide worldwide through 2018, and will receive a terminal payment of $200 million in December 2018.
“Bristol-Myers Squibb and Sanofi have had a long and successful collaboration helping patients with cardiovascular disease,” said Lamberto Andreotti, chief executive officer, BMS. “This revised agreement simplifies operations and supports our ability to focus on delivering our promising, innovation-driven R&D portfolio and setting the foundation for future success.”
“Our alliance with BMS has been extremely successful and value-generating for both partners,” said Hanspeter Spek, president, Global Operations, Sanofi. “The revised agreement further supports Sanofi’s strategic priorities while continuing to offer the clinical benefits of these well-established products to millions of patients around the world.”
BMS will also make a one-time payment of $80 million to Sanofi to resolve all previous disputes related to the Avalide supply disruption in the U.S. in 2011.