The logo of global biopharmaceutical company Bristol-Myers Squibb is depicted on an employee’s blouse in Le Passage, near Agen, France, on March 29, 2018.
Regis Duvinau | Ritter
Bristol-Myers Squibb said on Monday it would buy Myocardia for about 13 13 billion to bolster its heart disease treatment portfolio as it seeks to reduce its dependence on cancer drugs.
The acquisition of Bristol-Myers’ billion-dollar Celgin last year has tied the world’s two largest cancer drug businesses to the largest pharmaceutical deal ever.
Shares of Bristol Myers’ offer fur price of 5 5,225 per share Initially, shares of Myocardia, which has almost doubled in value this year, rose 58.55% to २२ 1,221.55 before the start.
With the deal, experimental heart disease treatment with Bristol Myers Mevacameton, a blockbuster potential.
The drug is examined for the treatment of obstructive hypertrophic cardiomyopathy – a disease where the heart muscles thicken and block blood flow. It affects about 200,000 people in the United States and Europe.
“I think it’s a modest acquisition premium to our sales expectations for Mavacamenten, as we estimated in the early (and lowest risk) of obstructive hypertrophic cardiomyopathy by 2026,” said Wadebush. Said.
Bristol-Myers said the acquisition provides a “driver of medium and long-term growth” and its earnings will increase by early 2023, with its best-selling cancer drug Relimid United expected to lose some of its patent exclusivity. States.
The sale of its blockbuster immunotherapy dipdivo has been embraced by Merck’s Kitruda, which has been approved for the treatment of new diagnosed forms of advanced lung cancer.
Myocardia in the first quarter of 2021 U.S. The health regulator is expected to submit a marketing application for MewaCmenton.
Bristol-Myers said it would explore the use of mevacamten for other diseases and develop a portfolio of experimental drugs for myocardia.
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