Bristol-Myers Squibb Acquires DuPont's Pharmaceutical Business

Bristol-Myers Squibb Company acquired the pharmaceutical business of DuPont Pharmaceuticals Company, including its Canadian subsidiary, DuPont Pharma, for US$7.8 billion in cash on October 1, 2001. Bristol-Myers Squibb is involved in a number of areas in the pharmaceutical sector, including oncology, cardiovascular and anti-infective treatments, cholesterol-fighting medications and treatments for diabetes. DuPont Pharma’s Canadian business includes pharmaceuticals, medical imaging and radiopharmacies.

The acquisition required notification and approval pursuant to the Competition Act. Successful efforts on behalf of Bristol-Myers Squibb to gain such approval were led by Lawson Hunter, Sandra Walker and Adam Kalbfleisch of Stikeman Elliott, and on behalf of DuPont Pharma by Tony Baldanza, Lisa Tracey and Angela Giancaterini of Fasken Martineau DuMoulin LLP.