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April 6, 2009

Otsuka Pharmaceutical Co., Ltd.

Otsuka and Bristol-Myers Squibb Extend U.S. Agreement for ABILIFY and Establish a Global Oncology Collaboration

Tokyo, Japan, April 6, 2009 -- Otsuka Pharmaceutical Co., Ltd. (Head Office: Chiyoda-ku, Tokyo, Japan; President: Taro Iwamoto; hereafter, "Otsuka") today announced that Otsuka and Bristol-Myers Squibb Company (NYSE: BMY) concluded an agreement on April 4, 2009 to extend the U.S. portion of the companies' long-standing agreement for the development and commercialization of ABILIFY®(aripiprazole) from the currently scheduled end date of November 2012 until April 2015. In addition, the companies have established a global oncology collaboration for two Bristol-Myers Squibb products -- SPRYCEL®(dasatinib) and IXEMPRA®(ixabepilone).

ABILIFY Extended Agreement

Under terms of the agreement Otsuka will receive an up-front cash payment from Bristol-Myers Squibb. In addition, during the term of the agreement, Otsuka will share a portion of ABILIFY U.S. net sales, and Otsuka will be responsible for a certain amount of expenses related to the commercialization of ABILIFY. Otsuka will continue to receive a manufacturing royalty from ABILIFY from Bristol-Myers Squibb.

Oncology Agreement

Beginning in 2010, Otsuka and Bristol-Myers Squibb will collaborate on two oncology assets SPRYCEL and IXEMPRA as follows:

  • Otsuka will share in commercial expenses for the U.S., Europe and Japan and co-promote SPRYCEL with Bristol-Myers Squibb in the U.S., Japan and major EU markets.
  • Otsuka will receive a collaboration fee from Bristol-Myers Squibb on aggregate annual net sales of SPRYCEL and IXEMPRA beginning in 2010 on a regressive tiering basis through 2020.

Based on its corporate philosophy of 'Otsuka-people creating new products for better health worldwide', Otsuka Pharmaceutical is dedicated to contributing to the health of people around the world.

About Bristol-Myers Squibb Company

Company Establishment December 13, 1887
Company Representative James M. Cornelius, chairman and CEO
Head Office Address 345 Park Avenue, New York, NY, USA
Employees Approximately 30,000 employees (BioPharma Business)
Scope of Business Bristol-Myers Squibb is a global biopharmaceutical company. The company discovers, develops and commercializes medicines for serious diseases including cancer, affective disorders, HIV/AIDS, hepatitis B,cardiovascular and metabolic diseases, among others.
Website http://www.bms.com

About Otsuka Pharmaceutical Co., Ltd.

Company Establishment August 10, 1964
Capital 20 billion yen
Company Representative Taro Iwamoto, Ph.D., President and Representative Director
Head Office Address 2-9 Kanda-Tsukasamachi, Chiyoda-ku, Tokyo 101-8535, Japan
Employees 5,592 as of March 31, 2009
Scope of Business Manufacture, sale, import/export of pharmaceuticals, clinical testing and medical equipment, food products and cosmetics
Global Website http://www.otsuka-global.com

Information in this news release was current as of the original release date.

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