Deals
Bristol Myers to Buy Heart Drug-Maker for $13 Billion
- MyoKardia purchase brings drug for enlarged heart ailment
- Application for approval expected in first quarter of 2021
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Drug giant Bristol Myers Squibb Co. will buy MyoKardia Inc. for $13.1 billion in cash in a deal to expand its offering of heart therapies.
Bristol Myers, which clinched the largest pharmaceutical deal in history just last year, will pay $225 a share for MyoKardia, according to a statement Monday from the companies, a premium of 61% over the biotech stock’s Friday closing price.