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BMS Acquires Mirati for $4.8B

Adds KRAZATI for the treatment of non-small cell lung cancer to its commercial portfolio.

Bristol Myers Squibb acquired Mirati, a commercial stage targeted oncology company, for $4.8 billion. Mirati’s assets expand BMS’s portfolio and pipeline and represent an opportunity to grow its oncology franchise. Through this acquisition, BMS adds KRAZATI, an important lung cancer medicine, to its commercial portfolio. The company gains access to several promising clinical assets that complement its oncology pipeline and are strong candidates for single agent development and combination strategies.

Mirati’s assets include KRAZATI (adagrasib), for the treatment of adult patients with KRASG12C-mutated locally advanced or metastatic Non-Small Cell Lung Cancer (NSCLC) who have received at least one prior systemic therapy, and MRTX1719, a potential first-in-class MTA-cooperative PRMT5 inhibitor in Phase 1 development across several tumor types with MTAP deletion, including NSCLC, cholangiocarcinoma (bile duct cancer), and melanoma.

“We are excited to add these assets to our portfolio and to accelerate their development as we seek to deliver more treatments for cancer patients,” said Giovanni Caforio, CEO and Board Chair, BMS. “With a strong strategic fit, great science and clear value creation opportunities for our shareholders, the Mirati transaction is aligned with our business development goals. Importantly, by leveraging our skills and capabilities, including our global commercial infrastructure, we will ensure patients globally can benefit from Mirati’s portfolio of innovative medicines.”

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