Bristol-Myers Squibb splits Mead Johnson into public offering

NEW YORK Bristol-Myers Squibb on Wednesday split its Mead Johnson Nutrition Company division, which markets Enfamil, into an initial public offering.

“Today marks important milestones in both our company’s transformation to a BioPharma leader and the launch of Mead Johnson Nutrition Company as a publicly-traded company,” stated James Cornelius, chairman and CEO, Bristol-Myers Squibb and chairman, Mead Johnson Nutrition Company. “Mead Johnson is a unique and powerful brand. We believe that today’s initial public offering of Mead Johnson will allow it to maximize the value of its brand by implementing growth plans and increasing shareholder value, while also providing Bristol-Myers Squibb with a steady source of profits, cash flow and growth,” he said.

“With its own publicly traded equity, Mead Johnson will be better able to accelerate its growth. The offering allows Bristol-Myers Squibb to further strengthen our capital structure as well as increase our focus on the BioPharma business portfolio, fulfilling yet another part of our health care business strategy we announced just over one year ago,” Cornelius added.