Bristol Myers Squibb to Buy RayzeBio for $4.1 Billion
26 Dezembro 2023 - 9:46AM
Dow Jones News
By Colin Kellaher
Bristol Myers Squibb has struck a $4.1 billion deal to buy
radiopharmaceutical therapeutics company RayzeBio.
Bristol Myers on Tuesday said it will pay $62.50 a share in cash
for RayzeBio, more than double Friday's closing price of $30.57 for
the San Diego company.
The RayzeBio transaction comes on the heels of Bristol's deal
last week to buy neuroscience-drug developer Karuna Therapeutics
for $14 billion.
Bristol Myers said the deal, worth about $3.6 billion net of
cash acquired, is slated to close in the first half of 2024.
Bristol Myers said the RayzeBio deal adds a differentiated
actinium-based radiopharmaceutical platform and a pipeline of
multiple drug-development programs to its oncology franchise.
RayzeBio's lead program, RYZ101, is in Phase 3 development for
the treatment of gastroenteropancreatic neuroendocrine tumors and
in early development for small cell lung cancer and potentially
other tumor types. Bristol said.
Trading in RayzeBio shares was halted premarket Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 26, 2023 07:31 ET (12:31 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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