* To sell painkiller Tempra, other brands for $160 mln
* To sell Bristol Indonesia for $150 million
* Taisho eyes full-fledged entry into Asia OTC drug market
By Yumiko Nishitani
TOKYO, Sept 16 (Reuters) - Bristol-Myers Squibb said it will sell Asia rights to over-the-counter drugs and its Indonesian unit to Japan's Taisho Pharmaceutical for $310 million, its seventh deal aimed at helping it focus on prescription drugs.
Taisho, Japan's biggest maker of non-prescription drugs, will make its first full-fledged entry into Asia's over-the-counter drug market.
The move by Taisho is the latest in a string of overseas acquisitions by Japanese drugmakers seeking to beef up their development pipelines and expand outside a mature home market and whose buying power has been helped by a strong yen.
Bristol said it will sell the Asia rights to a batch of products, including painkillers Tempra and Counterpain, for $160 million and its 98 percent stake in Bristol-Myers Squibb Indonesia for $150 million.
Other recent big divestitures include its sale of ConvaTec, a wound-healing unit. It sold its over-the-counter drug business in Japan to Lion Corp in 2007.
Taisho, which had annual revenue of around 256 billion yen ($2.8 billion) in the last financial year, hopes to use to the Indonesian firm's production facilities and sales network to expand into Asia, where until now it has focused on energy drinks.
It will keep Bristol-Myers Squibb Indonesia listed, a company spokesman said.
Taisho has been active in product acquisitions, which include the purchase of Vicks medicated cough drops from Procter and Gamble in 2002. Its overseas sales account for less than 10 percent of overall revenue while prescription drugs make up only a third.
Other recent overseas deals by Japan pharmaceutical companies include Dainippon Sumitomo Pharma Co Ltd's agreement this month to buy U.S. drugmaker Sepracor Inc for $2.6 billion.
The Hong Kong and Shanghai Banking Corp was Bristol's exclusive financial adviser on this deal, Bristol said. Daiwa Securities SMBC was Taisho's financial adviser, Taisho said. (Editing by Edwina Gibbs)