Bristol Myers Squibb to Acquire MyoKardia for $13.1 Billion

October 6, 2020

Through the acquisition, Bristol Myers Squibb will gain access to MyoKardia’s mavacamten, a cardiovascular drug for the treatment of obstructive hypertrophic cardiomyopathy, a chronic heart disease.

Bristol Myers Squibb announced on Oct. 5, 2020 that it will acquire MyoKardia, a clinical-stage biopharmaceutical company located in Brisbane, CA, for $13.1 billion.

Under the terms of the agreement, Bristol Myers Squibb will acquire all outstanding shares of MyoKardia’s common stock for $225.00 per share in cash, a Bristol Myers Squibb press release said.

Additionally, through the acquisition, Bristol Myers Squibb will gain access to MyoKardia’s mavacamten, a cardiovascular drug for the treatment of obstructive hypertrophic cardiomyopathy, a chronic heart disease. Bristol Myers Squibb will also work to develop MyoKardia’s pipeline of novel compounds, including its two clinical-stage therapeutics danicamtiv and MYK-224.

“The acquisition of MyoKardia further strengthens our portfolio, pipeline, and scientific capabilities, and is expected to add a meaningful medium- and long-term growth driver,” said Giovanni Caforio, MD, board chair and CEO of Bristol Myers Squibb, in the press release. “We are further strengthening our outstanding cardiovascular franchise through the addition of mavacamten, a promising medicine with the potential to address a significant unmet medical need in patients with cardiovascular disease. Our companies share a commitment to innovation and bold science, and our respective strengths will help us realize the value inherent in this portfolio. We have long admired MyoKardia and what they have done to revolutionize cardiovascular treatments through a precision medicine approach. We look forward to welcoming their talented team to our company.”

“Bristol Myers Squibb shares our vision for transforming the treatment of cardiovascular disease,” added Tassos Gianakakos, CEO of MyoKardia, in the press release. “They value our team and the potential of our platform and, most importantly, share our unwavering commitment to placing patients at the center of everything we do. Together, our complementary strengths and expanded resources and reach will further accelerate the pace at which we can discover, develop, and commercialize our novel medicines for the benefit of people suffering from cardiovascular disease around the world.”

Source: Bristol Myers Squibb