Bristol-Myers Squibb to Acquire Mirati Therapeutics in $4.8 Billion Deal
Bristol-Myers Squibb, a leading pharmaceutical company, has announced its plans to acquire cancer drugmaker Mirati Therapeutics in a deal worth $4.8 billion. The acquisition will be made through a cash transaction, with Bristol-Myers Squibb offering $58 per share in cash to Mirati Therapeutics shareholders.
The acquisition of Mirati Therapeutics aligns with Bristol-Myers Squibb’s strategy to expand its oncology portfolio and strengthen its position in the rapidly evolving cancer treatment market. Mirati Therapeutics is known for its innovative cancer therapies, and this acquisition will provide Bristol-Myers Squibb with access to its promising pipeline of drugs.
While the transaction is expected to be dilutive to Bristol-Myers Squibb’s non-GAAP earnings per share by approximately 35 cents in the first year, the company believes that the long-term benefits outweigh the short-term impact. The acquisition will further enhance Bristol-Myers Squibb’s ability to deliver innovative treatments to patients and drive future growth.
Both Bristol-Myers Squibb and Mirati Therapeutics are committed to advancing cancer research and improving patient outcomes. By combining their resources and expertise, they aim to accelerate the development of breakthrough therapies and bring them to patients in need.
The completion of the acquisition is subject to customary closing conditions, including regulatory approvals. Bristol-Myers Squibb expects the transaction to close in the near future.
This strategic move by Bristol-Myers Squibb demonstrates its commitment to addressing the unmet needs of cancer patients and reinforces its position as a leader in the pharmaceutical industry. The acquisition of Mirati Therapeutics will undoubtedly contribute to the advancement of cancer treatment options and bring hope to countless individuals fighting this devastating disease.