Taisho Pharmaceutical, the largest over-the-counter drug company in Japan, agreed to acquire UPSA, a provider of consumer medicines, from Bristol-Myers Squibb, a global biopharmaceutical company, for $1.6bn. “Today’s announcement marks the culmination of an in-depth strategic review to identify the best option to grow the UPSA business for the long-term. UPSA is a strong business that deserves the best possible opportunities for its employees and its future development. With Taisho we have found an experienced and reliable buyer with the strategic interest to successfully sustain and grow the business for the future,” Giovanni Caforio, Bristol-Myers Squibb Chairman and CEO.