BMS boosts cardio portfolio with $13bn buy
Bristol Myers Squibb (BMS) has announced it will acquire biotech firm MyoKardia for $13.1 billion, strengthening its portfolio of heart disease treatments.
As part of the deal, which was announced yesterday, October 5, BMS will gain access to mavacamten, a potential first-in-class cardiovascular medicine for the treatment of obstructive hypertrophic cardiomyopathy (a chronic heart disease with high morbidity).
The companies expect to submit a New Drug Application for mavacamten for the treatment of symptomatic obstructive hypertrophic cardiomyopathy to the US Food and Drug Administration in the first quarter of 2021.
Giovanni Caforio, board chair and CEO of BMS, said: “We are further strengthening our outstanding cardiovascular franchise through the addition of mavacamten, a promising medicine with the potential to address a significant unmet medical need in patients with cardiovascular disease.”
The acquisition builds on BMS’ existing heart drug portfolio, which includes blood thinner Eliquis (apixaban). Earlier this year, Chief Judge Leonard Stark of the US District Court for the District of Delaware affirmed patents covering Eliquis.
The decision (which is being appealed) staved off generic versions of the blockbuster drug. Based on settlement agreements reached with generic makers, BMS expects generic entry could occur after 2026 but before 2031, subject to appeals and future challenges.
BMS’ acquisition of MyoKardia also provides the company with an opportunity to develop MyoKardia’s pipeline of novel compounds, including two clinical-stage therapeutics: danicamtiv (formerly MYK-491) and MYK-224.
Tassos Gianakakos, CEO of MyoKardia, said: “BMS shares our vision for transforming the treatment of cardiovascular disease. They value our team and the potential of our platform and, most importantly, share our unwavering commitment to placing patients at the center of everything we do.”
Amid a flurry of merger and acquisition activity in recent months, BMS also announced it would acquire protein engineering company Forbius to bolster its oncology portfolio.
Late last year, BMS closed on its $74 billion acquisition of drug maker Celgene. At the time, BMS estimated that the newly combined company will have six near-term launch opportunities for drugs in the areas of immunology, inflammation and haematology.
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories sent like this straight to your inbox.
