BMS to Acquire Mirati Therapeutics for ~$5.8B
Shots:
- BMS to acquire all of the outstanding shares of Mirati common stock for $58.00 per share in cash representing a 52% premium to the 30-day VWAP making a total equity value of $4.8B. The transaction is expected to close in H1’24
- Mirati stockholders will also receive 1 non-tradeable CVR for each Mirati share in $12.00 per share in cash representing an additional $1.0B of the total value if MRTX1719 is successfully submitted to the US FDA for approval within 7 years of deal closure. The acquisition is part of BMS’s strategy to expand its portfolio & innovative pipeline in the oncology field
- BMS will incl. Krazati in its commercial portfolio & will gain rights to other assets at the clinical stage. Mirati’s promising pipeline incl. MRTX1719 & a KRAS and KRAS-enabling program incl. MRTX1133 & MRTX0902
Ref: BMS | Image: BMS
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
