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Bristol-Myers to pay $1.85 bln in cancer deal with Nektar [Reuters]

BRISTOL-MYERS SQUIBB (BMY)  More Company Research Source: Reuters
Last bristol-myers squibb earnings: 7/26 06:59 am Check Earnings Report
US:NYSE Investor Relations: bms.com/investors.html
PDF Bristol-Myers to pay $1.85 billion in cancer deal with Nektar | Reuters 3 Min Read (Reuters) - Bristol-Myers Squibb Co ( BMY.N ) will pay Nektar Therapeutics ( NKTR.O ) $1.85 billion in cash and share purchase for a global development and commercialization deal on a promising Nektar cancer drug, the companies announced on Wednesday. In one of the largest single-drug collaboration deals ever, Nektar will receive $1 billion in cash upfront and Bristol-Myers will purchase about 8.28 million Nektar shares at $102.60 per share, or an equity stake of just under 5 percent of the company. Nektar shares closed at $75.66 on Nasdaq on Tuesday. The partnership is built around the Nektar drug, NKTR-214, which will be tested in combination with Bristol’s immuno-oncology (IO) drugs Opdivo and Opdivo and Yervoy in 20 cancer indications across nine different tumor types, including melanoma, kidney and lung cancers, following “very encouraging” early data from clinical trials. “We’ve been in a clin [Read more]

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