NEW YORK (Standard&Poor's) Jan. 12, 2005--Standard&Poor's Ratings Services said today that Bristol-Myers Squibb Co.'s (A+/Negative/A-1) potential sale of its consumer medicines business would not have an impact on the ratings and outlook of the company. Proceeds from the transaction could improve Bristol-Myers' financial profile, and the company would still maintain a very diverse business portfolio. However, there are concerns about the company's major patent expirations through 2006, as well as its challenge to introduce significant new products. The company is shedding its non-core businesses to better focus on its higher margin prescription pharmaceuticals segment. It previously announced the sale of its Oncology Therapeutic Network, a cancer drug distribution business that generated nearly $2 billion in annual
