Genelabs Buying B-MS Production Unit In Taiwan

24 March 1997

Taiwan-based Genelabs Biotechnology Ltd, an affiliate of the US firmGenelabs Technologies Inc, has entered into a series of related agreements with Bristol-Myers Squibb (Taiwan) Ltd, whereby GBL will acquire B-MS' pharmaceutical plant located in Hsinchu, Taiwan.

In addition, the companies have agreed that, for an initial three-year term, GBL will manufacture all B-MS' Taiwan requirements for approximately 15 key products. Included among these will be leading B-MS drugs. GBlL has also been granted the right to distribute a number of the US firm's pharmaceutical products in selected territories in Taiwan.

According to Michael Kitchen, vice president, Asia, at B-MS, "this divestiture is part of our corporate strategic initiative to consolidate manufacturing, and at the same time provides for an uninterrupted source of supply for some of our key products in Taiwan."

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