BMS plans IPO for Mead Johnson Nutritionals

NEW YORK Bristol-Myers Squibb plans to file a registration statement by year-end to sell between 10 percent and 20 percent of its Mead Johnson Nutritionals division through an initial public offering, the company announced Thursday along with its first-quarter 2008 results.

“After extensively considering strategic options, management believes this plan will allow Mead Johnson Nutritionals to implement its growth plans, increase shareholder value and maintain its important financial contribution to Bristol-Myers Squibb,” the company stated.

U.S. Nutritional sales of Mead Johnson increased 5 percent for the quarter ended March 31 to $288 million. The company cited increased sales of Enfamil as a signficiant driver behind that growth.