Bristol Myers Squibb Acquires Mirati Therapeutics for $4.8 Billion

With the acquisition of this company, Bristol Myers Squibb will be able to enhance its oncological offerings and potentially position Adagrasib as a leading treatment for cancer patients.

US pharmaceutical giant Bristol Myers Squibb has acquired Mirati Therapeutics, a clinical-stage biotechnology company focussed on targeted oncology treatments, for $4.8 billion. 

The deal, anticipated to conclude in the first quarter of 2022 following regulatory approvals and standard closing conditions, marks a strategic move by Bristol Myers Squibb to bolster its oncology portfolio and solidify its standing in the swiftly evolving realm of precision medicine.

Adagrasib, the lead drug candidate from Mirati Therapeutics, stands out as a promising small molecule inhibitor specifically designed to combat certain genetic mutations associated with various types of cancers.

With the acquisition of this company, Bristol Myers Squibb will be able to enhance its oncological offerings and potentially position Adagrasib as a leading treatment for cancer patients.

Commenting on the significance of the acquisition, Giovanni Caforio, the chairman and CEO of Bristol Myers Squibb, said, "The acquisition of Mirati Therapeutics is a significant step forward in our strategy to build a leading oncology franchise. Adagrasib is a highly differentiated precision medicine that has demonstrated promising clinical activity in patients with KRAS G12C-mutated cancers, and we believe it has the potential to become a foundational therapy in this area."

This acquisition represents a broader trend within the pharmaceutical industry, where companies actively pursue strategic acquisitions to expand their portfolios and gain a competitive edge in the market. 

Bristol Myers Squibb's move to acquire Mirati Therapeutics is anticipated to reinforce its position in the oncology market and open new avenues for developing innovative treatments for cancer patients.

In the same vein, US-based company Emmes has completed the acquisition of VaxTRIALS, a significant step in Emmes' plan to extend its global footprint beyond North America, Europe, and Asia into the Latin American market. 

This strategic move is set to strengthen Emmes' capabilities in one of its primary research areas, namely vaccines and infectious diseases.