Bristol-Myers Squibb is selling its therapy and surgical care unit, ConvaTec, to two private equity firms, Nordic Capital and Avista Capital Partners for $4.1 billion. The sale, expected to close in the third quarter, is part of the company's strategy to shift its focus to biopharmaceuticals. This strategy also includes the sale of the company's medical imaging unit for $525 million, as well as plans to sell between 10% and 20% of its Mead Johnson Nutritional unit.
   
"These decisions support our next-generation biopharma strategy," said chairman and chief executive officer, James M. Cornelius. "We will now have additional financial resources to expedite that strategy as we continue to work to help patients prevail over serious diseases."
   
In December, the company announced plans to lay off about 4,300 employees (10% of its work force) and close more than half of its manufacturing plants as part of its goal to save $1.5 billion annually by 2010.

AMRI

1Q Revenues: $53.6 million (+11%)

1Q Earnings: $4.7 million (+47%)

Comments: Total contract revenue increased to $45.3 million in the quarter (+10%).  Discovery Services revenue was $13.3 million (+34%). Development and Small Scale Manufacturing revenue was $13.2 million (+29%). Large Scale Manufacturing revenue dropped to $18.7 million (-11%). Allegra royalties were $8.2 million (+15%).

Eisai Corp. of North America has appointed Cynthia Schwalm president of Eisai Inc. In her new role, Ms. Schwalm will have full operating responsibility for leading Eisai Inc., the U.S. commercial operation of Eisai Co., Ltd.
   
Ms. Schwalm has a strong track record of building high-performing organizations that drive global growth and nearly 25 years of senior healthcare experience in the fields of pharmaceuticals, biotechnology and medical devices. She will report to Lonnel Coats, president and chief operating officer, Eisai Corp. of North America.  
   
"Ms. Schwalm is an exciting addition to our company. She will be instrumental in driving Eisai's integration of MGI Pharrma and strengthening our presence in the U.S. as a top 20 pharmaceutical company," said Mr. Coats.
   
Ms. Schwalm joins the company from Amgen, Inc., where she served as vice president and general manager of the U.S. Oncology Business Unit. In this role she led the 500-person business unit, oversaw all oncology strategy and served as a member of Amgen's senior management team responsible for talent development in medical affairs, drug development, regulatory, and health economic functions.
   
Prior to Amgen, Inc., she held positions of increasing responsibility at various Johnson & Johnson companies. In her last assignment at J&J, she spent several years in the UK as the managing director of Ortho Biotech UK & Ireland.