Bristol-Myers Squibb to sell 60% stake in the first Sino-American joint venture pharmaceutical company.

According to the Securities Times APP, American pharmaceutical company Bristol-Myers Squibb (BMY.US) announced on Tuesday that it has signed an agreement to sell 60% of its equity in a Chinese pharmaceutical joint venture. A spokesperson for the company said in an email, "As part of our long-term strategy, we continue to consolidate resources to support our evolving business needs in the global network."