MON, 09 Oct 2023
ALEX MORGAN
– Mirati develops commercial-stage oncology therapies, and through the deal, Bristol Myers Squibb will add lung-cancer medicine Krazati, among others, to its portfolio.
“We are excited to add these assets to our portfolio and to accelerate their development as we seek to deliver more treatments for cancer patients,”
Giovanni Caforio, Bristol Myers Squibb`s chief executive and chairman, said in a statement.
– ” The deal is expected to be dilutive to Bristol Myers Squibb`s non-GAAP earnings per share by about 35 cents a share in the first 12 months after the transaction closes.
– Bristol Myers Squibb, with a market cap of about $118.
– 4 billion, has seen its shares sink 21% year to date.
– Mirati shares are up 33% this year.