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BMS to Acquire Turning Point for ~$4.1B

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BMS to Acquire Turning Point for ~$4.1B

BMS to Acquire Turning Point for ~$4.1B

Shots:

  • BMS commences a tender offer to acquire all outstanding shares of Turning Point’s common stock at $76.00/share in an all-cash transaction making a total deal value of $4.1B. It represents a 122.5% premium to its last closing price & the transaction is expected to close in Q3’22
  • The transaction is expected to be ~$0.08/share dilutive to non-GAAP EPS in 2022. The acquisition enables BMS to broaden its oncology franchise by adding precision oncology asset
  • Turning Point’s repotrectinib has received 3 BTD from the US FDA & is expected to be approved in the US in H2’23. In the P-I/II (TRIDENT-1) trial, longer DoR has been observed in the landmark analysis with repotrectinib over existing ROS1 agents in 1L NSCLC

Ref: Businesswire | Image: BMS

Click here to­ read the full press release 

Neha

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.

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