Biopharmaceutical company Bristol-Myers Squibb Company (NYSE:BMY) announced on Monday the completion of the sale of its oral solid, biologics, and sterile product manufacturing and packaging facility to Catalent Inc for undisclosed amount.

Based in Anagni, Italy, the Anagni facility manufactures and packages cardiovascular, anticancer, metabolic and anti-inflammatory medicines, as well as non-penicillin-based antibiotics, antivirals, analgesics as injectables and biologics.

This divestiture is part of Bristol-Myers Squibb's strategy to simplify and to realign its business portfolio to address changes in its business and the future requirements of its evolving pipeline.

Bristol-Myers Squibb added that it is focusing resources on its highest priorities of discovering, developing and delivering transformational medicines for patients facing serious diseases.