As per the revised agreement, Sanofi will regain its Plavix and Avapro/Avalide rights in all markets worldwide excluding Plavix in the US and Puerto Rico, effective 1 January 2013.
Plavix rights in the US and Puerto Rico will remain unchanged according to the terms of the existing agreement through December 2019.
Bristol-Myers chief executive officer Lamberto Andreotti said, "This revised agreement simplifies operations and supports Bristol-Myers Squibb’s ability to focus on delivering our promising, innovation-driven R&D portfolio and setting the foundation for future success."
According to the restructured agreement, Sanofi will have control and freedom to operate commercially.
In return Bristol-Myers will earn royalty payments on Sanofi’s sales of branded and unbranded Plavix worldwide, excluding the US and Puerto Rico, and on sales of branded and unbranded Avapro/Avalide worldwide, in each case through 2018.
Bristol-Myers will also earn a $200m terminal payment from Sanofi in December 2018.
Sanofi global operations president Hanspeter Spek said, "The revised agreement further supports Sanofi’s strategic priorities while continuing to offer the clinical benefits of these well-established products to millions of patients around the world."
The deal also resolves ongoing disputes between the companies, including Bristol-Myers paying Sanofi $80m as compensation for the disruption of Avalide supply in the US, in 2011.