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BRISTOL-MYERS SQUIBB, STERLING WINTHROP INC. AND ELF SANOFI ANNOUNCE CARDIOVASCULAR DEVELOPMENT EFFORT

 PRINCETON, N.J., and NEW YORK, June 1 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE: BMY), Sterling Winthrop Inc., and its alliance partner, Elf Sanofi, announced today preliminary agreements for a cooperative development and commercialization effort involving two promising cardiovascular compounds.
 The announcement was made today in New York and Princeton and at a press briefing in Paris held by Elf Sanofi.
 Initially, the worldwide cooperative effort involves the joint development and commercialization of Elf Sanofi's SR 47436, an angiotensin II receptor antagonist that is considered to represent a promising future treatment of arterial hypertension, and possibly, other cardiovascular disorders; and clopidogrel, a novel antithrombotic agent for potential prevention of heart attack, stroke and peripheral arterial disease, which is now being developed by the Elf Sanofi/Sterling Winthrop alliance.
 "Bristol-Myers Squibb offers cardiovascular products for each major risk factor and each stage of the cardiovascular disease continuum, including hypertension, hypercholesterolemia, coronary artery disease, arrhythmias, and heart failure," said Kenneth E. Weg, president, Bristol-Myers Squibb Pharmaceutical Group. "This important agreement with Sterling Winthrop and Elf Sanofi will further strengthen our cardiovascular portfolio and provide some of the most advanced agents for prevalent cardiovascular disorders."
 "We are pleased to combine these promising compounds with those of a firm well-established in cardiovascular medicine," said Jacques Rejeange, president, Sterling Winthrop Pharmaceuticals Group. "This unique opportunity to work with Bristol-Myers Squibb strongly complements our existing strategy and will further our efforts to become a worldwide leader in pharmaceuticals."
 SR 47436 is an angiotensin II receptor antagonist being developed for the treatment of hypertension and other cardiovascular diseases. It is now in Phase II clinical trials in Europe and entering Phase II trials in the United States. It is expected to offer advantages over several types of drugs now available for treating hypertension. Clopidogrel, an antithrombotic agent, is in Phase III clinical trials worldwide and its potential indications include prevention of secondary myocardial infarction, stroke and peripheral arterial disease.
 Development of the two products will be shared by the companies. Sterling Winthrop Pharmaceuticals Research Division and Sanofi Research will continue to lead development efforts for clopidogrel and Bristol-Myers Squibb Pharmaceutical Research Institute will lead the development efforts for SR 47436. Upon regulatory approval, marketing of each compound will be handled on a country-by-country basis and may include co-marketing, co-promotion and joint venture entity marketing.
 Definitive agreements are expected to be concluded within several months. The agreement also allows for the two companies to consider joint development of additional products at a later date.
 Bristol-Myers Squibb is a research-based, diversified healthcare company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices. It is among the world's leading makers of cardiovascular, anticancer, anti-ineffective, central nervous system and dermatological drug therapies, diagnostic agents and non-prescription medicines.
 Sterling Winthrop is headquartered in New York City. It is a worldwide developer, manufacturer and marketer of pharmaceuticals and consumer health products. The company's research and development efforts are focused in three core areas: diagnostic imaging, oncology and chronic inflammatory diseases, with additional work in the areas of cardiovascular disease, endocrine and metabolic diseases and disorders of the central nervous system.
 /delval/
 -0- 6/1/93 R
 /CONTACT: Peggy Ballman of Bristol-Myers Squibb, 609-252-5323, or Terry G. Kelly of Sterling Winthrop, 212-907-3009/
 (BMY)


CO: Bristol-Myers Squibb Company; Sterling Winthrop Inc.; Elf Sanofi ST: New Jersey, New York IN: MTC SU: JVN

632 06-01-93 10:49 EDT MP-LJ -- PH011R -- 4059 06/01/93 15:09 EDT
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Date:Jun 1, 1993
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