Bristol Myers Squibb is bolstering its cardiovascular drug lineup with a $13.1 billion deal to acquire MyoKardia, a company whose experimental therapy for a rare type of heart disease is on track for an FDA submission and is projected to become a blockbuster seller, if approved.
According to financial terms announced Monday, Bristol (NYSE: BMY) has agreed to pay $225 cash for each share of MyoKardia (NASDAQ: MYOK), a 61 percent premium to the Brisbane, CA-based company’s closing stock price on Friday. Shares of MyoKardia opened at $220.68 per share on Monday.
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