Last week, Eli Lilly offered to buy POINT Biopharma, a maker of next-generation radioligand therapies for treating cancers, for approximately $1.4 billion in cash. It is currently in phase I development and has shown encouraging early efficacy data across several tumor types. The drug was approved by the FDA in December 2022 for the treatment of adult patients with KRAS-mutated locally advanced or metastatic NSCLC who have received at least one prior systemic therapy.īristol Myers will also get access to Mirati's early-stage candidate MRTX1719, a potential first-in-class MTA-cooperative PRMT5 inhibitor. The acquisition will add Mirati's new lung cancer drug Krazati (adagrasib) to BMY's strong oncology portfolio. Mergers and acquisitions (M&A) in pharma and biotech are back in focus after two important deals were announced in a fortnight.īristol Myers Squibb announced that it will acquire commercial-stage oncology company Mirati Therapeutics for a total equity value of $4.8 billion-plus contingent value right of approximately $1.0 billion. Here are highlights from Tuesday’s Analyst Blog: Cancer Biotecha Pique Buyout Interest: Recent Deals in Focus Stocks recently featured in the blog include: Bristol Myers Squibb BMY, Mirati Therapeutics MRTX, Eli Lilly LLY, POINT Biopharma PNT and Pfizer PFE. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Chicago, IL – Octo– announces the list of stocks featured in the Analyst Blog.
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