Taisho nears US$1.6bil deal for Bristol-Myers unit

Valued asset: An employee holds packages of Dafalgan, a brand of paracetamol, on the production line of Bristol Myers Squibb’s pharmaceutical plant of French group UPSA in Agen, southwestern France. — AFP

HONG KONG: Taisho Pharmaceutical Holdings Co is nearing a deal to buy Bristol-Myers Squibb Co’s French over-the-counter unit, people familiar with the matter said, as the Japanese drugmaker seeks to boost its overseas presence.

An agreement for the consumer-health business could be announced as soon as this week, the people said, asking not to be identified because the matter is private.