December 5, 2007 - Bristol-Myers Squibb will divest its medical imaging division as part of an initiative to maximize the value of its healthcare group.
As part of the restructuring, Bristol-Myers Squibb will cut personnel by 10 percent, possibly resulting in pretax cost savings of $1.5 billion by 2012. It will focus its activities on such key growth products as specialty and biologic medicines and cardiovascular and metabolic drugs.
The downsizing of its labor force started in November and will continue for three years, the company announced.
