Bristol-Myers scoops Inhibitex for $2.5bn

  
Generate a summary of this article
Listen to this article
Beta

As predicted in the latest Scrip Pharma Trends, the hepatitis C space is hotting up further. Less than two months after Gilead Sciences offered an eye-watering $11 billion to buy Pharmasset, Bristol-Myers Squibb is acquiring Inhibitex for $26 a share, valuing the company at $2.5 billion. The offer represents a 163% premium to the $9.87 Inhibitex share price at the close of markets on 6 January. The Inhibitex board has agreed to not solicit any competing offers for its company.

As predicted in the latest Scrip Pharma Trends, the hepatitis C space is hotting up further. Less than two months after Gilead Sciences offered an eye-watering $11 billion to buy Pharmasset, Bristol-Myers Squibb is acquiring Inhibitex for $26 a share, valuing the company at $2.5 billion. The offer represents a 163% premium to the $9.87 Inhibitex share price at the close of markets on 6 January. The Inhibitex board has agreed to not solicit any competing offers for its company.

The timing of the move may be related to the availability of early data from the Phase II studies of...

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

SpotifyApple PodcastsWebsite

More from Archive

Optimizing Drug Pipelines With Biophysical Methods

Optimizing Drug Pipelines With Biophysical Methods”, your view into how using biophysical techniques can enhance and streamline processes throughout the drug discovery and validation cycle.

Galapagos Expands Point-Of-Care CAR-T Study To The US

 
• By Andrew McConaghie

CEO Paul Stoffels said gaining US clearance for an IND for its novel CAR-T product was demanding, but now opens up a pathway towards a pivotal study starting in 2025.

Analysts Split On Eisai’s Chances Of Changing EU Regulator’s Mind On Leqembi

 
• By Andrew McConaghie

A final rejection of Leqembi could also spell the same fate for Lilly’s rival drug but public outcry and demand for Alzheimer’s therapies might force the regulator’s hand

GSK Looks To Catch Up In mRNA Vaccines With New CureVac Deal

 
• By Andrew McConaghie

GSK will assume full control of mRNA shots in infectious disease, allowing CureVac to cut costs and pivot its research to oncology.

More from Scrip

EHA: Lilly’s Jaypirca Posts First Phase III Triplet Win In CLL While BTK Degraders Advance - Clone

Lilly's first Phase III triplet win opens the door to a label expansion in BTK-pretreated CLL, with analysts suggesting Jaypica could attain blockbuster status. However, the window to capitalize may be brief as next-generation BTK degraders close in with head-to-head trials.

Top 10 Drugs Q1 2026: New Sheriff In Town As Mounjaro Unseats Keytruda

Mounjaro, Eliquis, and Darzalex buck the Q1 trend to make gains