Bristol-Myers Squibb to Sell its HIV R&D Portfolio to ViiV Healthcare for $350M Upfront Plus Milestone Payments

Bristol-Myers Squibb Company 

today announced that it has entered into two individual agreements with ViiV Healthcare, a global HIV company, to divest its pipeline of investigational HIV medicines consisting of a number of programs at different stages of discovery, preclinical and clinical development. Under these agreements, ViiV will pay to Bristol-Myers Squibb upfront payments totaling $350 million with potential development and regulatory milestone payments of up to $518 million for the clinical assets and up to $587 million for the discovery and pre-clinical programs. Once products are approved and commercialized, ViiV Healthcare will pay tiered royalties. Additionally, ViiV Healthcare will pay sales-based milestone payments of up to $750 million for each of the clinical assets