Bristol-Myers Makes Takeover Approach to Aurinia Pharmaceuticals

Bristol-Myers Squibb Co. has expressed interest in acquiring smaller rival biopharmaceutical firm Aurinia Pharmaceuticals Inc., according to people familiar with the matter.

The New York-based company recently approached Aurinia about a deal, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and Bristol-Myers could opt against any potential deal, they said.