Bristol-Myers Squibb Statement on Mead Johnson Nutrition Company IPO
NEW YORK--(BUSINESS WIRE)--Feb 11, 2009 - Bristol-Myers Squibb Company (NYSE:BMY) issued the following statement on today's initial public offering of Mead Johnson Nutrition Company (NYSE:MJN):
“Today marks important milestones in both our company's transformation to a BioPharma leader and the launch of Mead Johnson Nutrition Company as a publicly-traded company,” said James M. Cornelius, chairman and chief executive officer, Bristol-Myers Squibb and chairman, Mead Johnson Nutrition Company. “Mead Johnson is a unique and powerful brand. We believe that today's initial public offering of Mead Johnson will allow it to maximize the value of its brand by implementing growth plans and increasing shareholder value, while also providing Bristol-Myers Squibb with a steady source of profits, cash flow and growth.
“For more than 100 years, Mead Johnson has helped parents give their children a healthy start in life. Similarly, Bristol-Myers Squibb is committed to extending and enhancing human life and helping patients prevail over serious disease.
“With its own publicly traded equity, Mead Johnson will be better able to accelerate its growth. The offering allows Bristol-Myers Squibb to further strengthen our capital structure as well as increase our focus on the BioPharma business portfolio, fulfilling yet another part of our health care business strategy we announced just over one year ago. Our management agrees that this IPO is great news for employees of both companies.”
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is a global biopharmaceutical company whose mission is to extend and enhance human life. For more information visit www.bms.com.
Posted: February 2009