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Reckitt Benckiser Announces Latin America OTC Collaboration with Bristol-Myers Squibb
- Client News
- February 12, 2013
Paul, Weiss client, Reckitt Benckiser Group plc (Reckitt), announced it has entered into a three-year collaboration agreement with the Bristol-Myers Squibb Company (BMS) for a number of market-leading over-the-counter consumer health care brands in Brazil, Mexico and certain other parts of Latin America, with an option to purchase such brands at the end of the three-year period. Under this collaboration, Reckitt will license the brands from BMS, which will continue to manufacture them for three years. Reckitt will initially pay BMS $482 million to enter into the arrangement, which also includes personnel, supply contracts and an option, based on business performance, to acquire legal title to the related intellectual property at the end of the collaboration period. Under the terms of a separate supply agreement, BMS will supply the products to Reckitt during the collaboration period.
The Paul, Weiss team included, among others, corporate partners Charles Googe, Toby Myerson and Steven Williams and counsel Didier Malaquin and Claudine Meredith-Goujon; and tax partner Jeffrey Samuels.