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Taisho said to near $1.6 billion deal for Bristol-Myers's UPSA: Bloomberg

Japanese health-care firm Taisho Pharmaceutical is said to be close to a $1.6 billion deal for Bristol-Myers Squibb's French over-the-counter drugs business UPSA, Bloomberg reported on Sunday, citing sources familiar with the matter.

An agreement for the consumer-health business could be announced as soon as this week, according to the report.

Bristol-Myers Squibb said in an email to Reuters that it does not comment on rumors and speculation, adding that the company is still considering options for the strategic review of UPSA that was announced in June.

A Taisho spokesman said the company could not comment on the report.

German drugmaker Stada and Italian health-care company Angelini were among the final bidders for Bristol-Myers' UPSA unit, according to a Reuters report in November.

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ABB and Hitachi close in on power grids deal

Key Points
  • The acquisition would allow Hitachi to boost its global presence in the power grid industry.
  • For ABB, which also makes industrial robots, it wants to offload its least profitable division to focus on areas such as automation.