Bristol Myers pushes out the boat with a $13.1 billion deal to buy heart drug maker

5 October 2020

US pharma major Bristol Myers Squibb (NYSE: BMY) has entered into a definitive merger agreement to acquire Brisbane, USA-based drug developer MyoKardia (Nasdaq: MYOK).

The transaction is valued at $13.1 billion, or $225.00 per share in cash, and news of the deal saw MyoKardia’s shares roar up 58% to $220.62 in pre-market trading today.

The transaction was unanimously approved by both the Bristol Myers Squibb and MyoKardia Boards of Directors and is anticipated to close during the fourth quarter of 2020.

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