New York City-based pharmaceutical company Bristol Myers Squibb and Brisbane, Calif.-based biopharmaceutical company MyoKardia announced a multibillion-dollar merger, according to an Oct. 5 press release.
Bristol Myers Squibb will acquire MyoKardia under the $13.1 billion deal, the release said. The deal will give Bristol Myers Squibb mavacamten, a potential first-in-class cardiovascular medicine treating obstructive hypertrophic cardiomyopathy.
Bristol Myers Squibb plans to explore mavacamten's full potential and develop MyoKardia's pipeline of novel compunds, including two clinical-stage therapeutics, the release said.
"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," Giovanni Caforio, MD, board chair and CEO of Bristol Myers Squibb said in the statement. "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."
Read the full press release from Bristol Myers Squibb here.
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