Bristol Myers Squibb Completes $4.8 Billion Acquisition of Mirati Therapeutics

Bristol Myers Squibb acquired Mirati Therapeutics for $58 per share in cash, totaling $4.8 billion equity value, announced October 8, 2023.15

The deal includes a contingent value right potentially adding $1 billion, for a total up to $5.8 billion, if certain FDA milestones for Krazati or MRTX1719 are met.123

Acquisition completed, making Mirati a wholly owned subsidiary of BMS, bolstering its oncology portfolio with KRAZATI (adagrasib), an FDA-approved KRAS G12C inhibitor for NSCLC.75

Expected to close by first half of 2024, financed by cash and debt; enhances BMS's targeted therapies in MTAP and MAPK pathways.46

Sources:

1. https://www.biopharminternational.com/view/bristol-myers-squibb-acquires-mirati-therapeutics-for-up-to-5-8-billion

2. https://www.statnews.com/2023/10/08/cancer-bristol-myers-squibb-buys-mirati/

3. https://www.fiercepharma.com/pharma/bristol-myers-buys-mirati-58b-i-o-giant-branches-out-targeted-therapy-cancer

4. https://www.biopharmadive.com/news/bristol-myers-mirati-acquire-deal-kras-cancer-drug/695931/

5. https://news.bms.com/news/details/2023/Bristol-Myers-Squibb-Strengthens-and-Diversifies-Oncology-Portfolio-With-Acquisition-of-Mirati-Therapeutics/default.aspx

6. https://www.biospace.com/bms-buys-mirati-for-4-8b-to-boost-cancer-business

7. https://www.pharmexec.com/view/bristol-myers-squibb-completes-acquisition-of-mirati-to-bolster-oncology-pipeline