Bristol-Myers gets $438 million under Latin America OTC deal with Reckitt Benckiser; Baraclude patent ruled invalid

US pharma major Bristol-Myers Squibb (NYSE: BMY) has entered into a three-year collaboration agreement with UK-headquartered Reckitt Benckiser (LSE: RBL) for several of its over-the-counter (OTC) medicines currently sold across Latin America, primarily in Mexico and Brazil.

Under the terms of the collaboration, Reckitt Benckiser will pay B-MS an upfront of $438 million for the exclusive rights to sell, distribute and market the following medicines for a three-year period: Picot, an antacid, Tempra, a pain reliever and fever reducer, Micostatin, an antifungal, and Graneodin, a cough and cold medicine, sold primarily in Mexico; and Dermodex, an anti-rash cream, Luftal, an anti-gas medicine, and Naldecon, a cold and flu symptoms treatment, sold primarily in Brazil.

“As part of our BioPharma strategy, Bristol-Myers Squibb has worked to focus its businesses around the world on innovative medicines in areas of high unmet medical need,” said Charles Bancroft, executive vice president, Intercontinental Region and Japan, and chief financial officer of the US drugmaker, noting that “this agreement allows us to increase our focus on the launch and commercialization of our innovative portfolio in these important markets in Latin America.”