Bristol-Myers maintains strategy with OTC sale

In Bristol-Myers Squibb Co.'s (NYSE: BMS) bid to morph from a traditional drugmaker into a focused biopharma, the firm sold over-the-counter assets in Asia-Pacific (excluding China and Japan) to Taisho Pharmaceutical Co. Ltd. for $160 million. Bristol also sold its 97.8% stake in PT Bristol-Myers Squibb Indonesia Tbk to Taisho for $150 million.