Pharmaceutical giant Bristol-Myers Squibb Co (NYSE: BMY) is gaining momentum, as company announces multibillion-dollar deal to buy cardio-focused biopharmaceutical Myokardia Inc (NASDAQ: MYOK)
Bristol Myers Squibb has reached a deal to acquire MyoKardia for $ 13 1 billion The all-cash takeover will see Bristol Myers pay a 61% premium over MyoKardia's closing price on Friday to secure a heart disease drug that's on the market point to be submitted for approval
MydoKardia's experimental cardiac treatment, Mavacamten, received a "breakthrough therapy designation" from the US Food & Drug Administration in July of this year
US drugmaker Bristol-Myers Squibb said Monday it would buy heart drug developer MyoKardia for around $ 13 billion
Bristol Myers Squibb, a producer of cancer drugs, said it would buy biotech MyoKardia for $ 13 billion in all-cash transactions to expand its line of heart drugs