ROVI has entered into an Asset Purchase Agreement with Bristol Myers Squibb (BMS) for the acquisition of a drug manufacturing facility located in Phoenix, Arizona (United Stated of America). Transaction is done by ROIS Phoenix Inc., a wholly owned subsidiary of ROVI Pharma Industrial Services, S.A.U.
Furthermore, ROIS Phoenix has entered into a Toll Manufacturing Agreement with BMS, which regulates the conditions under it will continue to manufacture products for BMS at the Facility. The agreement has an initial term of five years from the closing of the Transaction and provides for a minimum payment of 50 million dollars for each year of the contract.