SOURCE: Industrial Info Resources

December 07, 2009 05:45 ET

Weaned From Bristol-Myers Squibb, Mead Johnson Expands With Nutritional Baby Formula, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - December 7, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Bristol-Myers Squibb (NYSE:BMY) (New York, New York) is divesting its 83% majority stake in its last non-biopharmaceutical holding, Mead Johnson Nutritional (NYSE:MJN) (Evansville, Indiana). This divesture comes only 10 months after Mead Johnson's initial public offering. In this time, Mead Johnson's stock has almost doubled from $24 per share to about $43 per share, and the company has embarked on a major and non-traditional expansion at its Evansville site. In the past, Mead Johnson's Evansville site has produced only liquid pediatric nutritional products, but due to consumer demand and generous city and state tax incentives, the company is in the midst of constructing an approximately 30,000-square-foot powder blending and packaging operation.

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