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BRISTOL-MYERS SQUIBB ANNOUNCES AGREEMENT WITH SCHERING AG

 BRISTOL-MYERS SQUIBB ANNOUNCES AGREEMENT WITH SCHERING AG
 NEW YORK, Nov. 27 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE: BMY) today announced an agreement under which Schering AG, Germany will receive from Bristol-Myers Squibb the U.S. rights to sotalol (Betapace(R)), an antiarrhythmic agent currently awaiting U.S. Food and Drug Administration approval as an orphan drug product, in exchange for a licensing fee plus royalties on U.S. sotalol sales.
 Under the agreement, Bristol-Myers Squibb will receive worldwide rights under Schering's existing patents and patent applications relating to Bristol-Myers Squibb's ProHance(R) (gadoteridol injection), a contrast agent for use in magnetic resonance imaging (MRI) that is currently awaiting U.S. Food and Drug Administration approval. Once approved, ProHance will be marketed by Squibb Diagnostics, a division of Bristol-Myers Squibb.
 Bristol-Myers Squibb is a diversified pharmaceutical company whose principal businesses are pharmaceuticals, consumer products, medical devices and nutritional products. Squibb Diagnostics is a U.S. leader in diagnostic imaging agents.
 -0- 11/27/91
 /CONTACT: Janet Skidmore, 609-921-5615, or Susan Yarin, 212-546-5709, both of Bristol-Myers Squibb/
 (BMY) CO: Bristol-Myers Squibb Company: Schering AG ST: New York IN: MTC SU:


JT -- NY024 -- 7726 11/27/91 12:15 EST
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Publication:PR Newswire
Date:Nov 27, 1991
Words:196
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