Bristol Myers Squibb said that it will purchase MyoKardia, an 8-year-old developer of an experimental heart drug, for $13.1 billion in cash.
The deal price, at $225 per MyoKardia share, represents a 61% premium to the closing price of MyoKardia shares on Friday.
Chris Boerner, Bristol’s chief commercial officer, said the addition of MyoKardia’s lead drug, mavacamten, “really enhances our position and gives us an opportunity to continue to be seen a sa leader in the cardiovascular space, and certainly to maximize the value of this particular asset.”
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