<code id='A2BB739990'></code><style id='A2BB739990'></style>
    • <acronym id='A2BB739990'></acronym>
      <center id='A2BB739990'><center id='A2BB739990'><tfoot id='A2BB739990'></tfoot></center><abbr id='A2BB739990'><dir id='A2BB739990'><tfoot id='A2BB739990'></tfoot><noframes id='A2BB739990'>

    • <optgroup id='A2BB739990'><strike id='A2BB739990'><sup id='A2BB739990'></sup></strike><code id='A2BB739990'></code></optgroup>
        1. <b id='A2BB739990'><label id='A2BB739990'><select id='A2BB739990'><dt id='A2BB739990'><span id='A2BB739990'></span></dt></select></label></b><u id='A2BB739990'></u>
          <i id='A2BB739990'><strike id='A2BB739990'><tt id='A2BB739990'><pre id='A2BB739990'></pre></tt></strike></i>

          focus

          focus

          author:explore    Page View:87891
          Adam's take main illustration
          Molly Ferguson/STAT

          Some day-after thoughts on Bristol Myers Squibb acquiring Mirati Therapeutics:

          A take-under deal feels meh for biotech sector sentiment.Bristol is paying $58 per share in cash for Mirati, which closed Friday at $60. Granted, Mirati was trading in the $30 range in September, so from there, the roughly 50% premium isn’t terrible. But as Mizuho strategist Jared Holz pointed out, investors would liked to have seen Mirati go for $75-$100 per share.

          advertisement

          With the closely watched XBI biotech index down 13% for the year, every M&A deal helps improve sentiment, but this one — maybe just a little. Bristol is paying $4.8 billion in cash to acquire Mirati, or $3.7 billion after accounting for Mirati’s cash. It’s a small bolt-on acquisition for Bristol, which isn’t overpaying.

          Get unlimited access to award-winning journalism and exclusive events.

          Subscribe Log In

          leisure time

          Dobbs anniversary: the lost opportunity of abortion as health care
          Dobbs anniversary: the lost opportunity of abortion as health care

          NathanHoward/GettyImagesReflectingonthisfirstanniversaryoftheSupremeCourt’sdecisioninDobbstooverturn

          read more
          Bronny James, LeBron's son, suffers cardiac arrest during basketball practice at USC
          Bronny James, LeBron's son, suffers cardiac arrest during basketball practice at USC

          0:32SierraCanyon'sBronnyJameswarmsupathalftimeduringahighschoolbasketballgameagainstChristopherColum

          read more
          BioMarin wins approval for gene therapy to treat hemophilia A
          BioMarin wins approval for gene therapy to treat hemophilia A

          AdobeTheFoodandDrugAdministrationonThursdayapprovedagenetherapytotreatpeoplewithhemophiliaA,aninheri

          read more

          Insmed lung disease drug hits target in key Phase 3 trial

          AdobeAnexperimentaldrugfromInsmedIncorporatedsuccessfullyreducedlungproblemsamongpatientswithanairwa