BMY will pay BBIO $90 million in upfront cash.
The deal was priced at $5.40, a 19% discount to Thursday's close.
Berkshire disclosed an $8.6 billion stake in Verizon Communications and a $4.1 billion position in Chevron Corp.
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Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, oncology, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is leading in drug development. Unlike some of its more diversified peers, Bristol has exited several nonpharmaceutical businesses to focus on branded specialty drugs, which tend to support strong pricing power.
| Website: | www.bms.com |
| Email: | timothy.power@bms.com |
| Main Phone: | +1 212 546-4000 |
| Address: | 430 E. 29th Street |
| Address 2: | 14th Floor |
| State: | NY |
| City / Town: | New York |
| Country: | US |
| Postal Code: | 10016 |
| Exchange: | NYE |
| CEO: | Giovanni Caforio |
| Employees: | 30250 |
| NAICS: | Pharmaceutical Preparation Manufacturing(325412) |
BMY will pay BBIO $90 million in upfront cash.
The deal was priced at $5.40, a 19% discount to Thursday's close.
Berkshire disclosed an $8.6 billion stake in Verizon Communications and a $4.1 billion position in Chevron Corp.
U.S. District Judge Dean Ochiai in Honolulu ruled that the companies failed to change the drug’s label to warn non-white patients of health risks from the blood thinner despite knowing some of the risks for more than a decade.
Nearly all the increases were below 10%, and the median hike was 4.8%, down slightly from the previous year.
Berkshire disclosed $5.7 billion of new healthcare stakes, including more than $1.8 billion each in Abbvie, Bristol-Myers Squibb and Merck and $136 million in Pfizer.
An NDA for MyoKardia's lead candidate — mavacamten for obstructive hypertrophic cardiomyopathy — is expected to be submitted to the FDA in Q1 2021.
90% of all prescriptions involve generics, medications that no longer hold patent protetection.
Bloomberg News reported the contact and that Gilead did not express interest in a merger.
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