World News – US – Bristol-Myers purchases heart drug developer MyoKardia


Bristol-Myers Squibb announced on Monday that it will buy MyoKardia for around $ 13 billion to bolster its portfolio of heart disease treatments, as it wants to reduce some of its drug addiction anticancer

The deal follows Bristol-Myers’ $ 74 billion acquisition of Celgene last year, which brought together two of the world’s largest cancer drug companies in the largest pharmaceutical deal ever

MyoKardia shares, which nearly doubled in value this year, rose another 585% to $ 22125 before the opening bell, just below Bristol Myers’ offer price of $ 225 per share

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The drug is being tested to treat hypertrophic obstructive cardiomyopathy a disease where a heart muscle thickens and obstructs blood flow It affects up to 200,000 people in the United States and Europe

« I think this is a typical acquisition premium for our sales expectations for mavacamten, as we had estimates of the initial (and lowest risk) indication for hypertrophic obstructive cardiomyopathy of around 2 $ 5 billion by 2026, « said Wedbush analyst David Nierengarten

Bristol-Myers said the acquisition was a « medium to long-term growth engine » and will increase profits from 2023, a year after its best-selling cancer drug Revlimid is expected to lose a portion of its patent exclusivity in the United States

Sales of its successful Opdivo immunotherapy program were overshadowed by Merck’s Keytruda, which received approvals to treat newly diagnosed forms of advanced lung cancer

Myokardia is expected to submit a marketing application for mavacamten to the US health regulator in the first quarter of 2021

Bristol-Myers has announced its intention to explore the use of mavacamten for other diseases and to develop MyoKardia’s investigational drug portfolio

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MyoKardia, Bristol Myers Squibb, NASDAQ: MYOK, Heart

World news – United States – Bristol-Myers buys heart drug developer MyoKardia for approximately $ 13 billion dollars


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