Biopharmaceutical company Bristol-Myers Squibb Co (BMY.N) said it would purchase privately held Amira Pharmaceuticals for $325 million in cash to expand its drug offerings to patients with fibrotic diseases. Under the deal, Bristol-Myers will secure Amira's fibrosis program and autotaxin program, the company said. Bristol-Myers also said it could potentially secure $150 million in milestone payments. Amira Pharmaceuticals is a small-molecule pharmaceutical company focused on the discovery and early development of new drugs to treat inflammatory and fibrotic diseases.
Bristol-Myers Squibb Company (BMS) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of pharmaceutical products on a global basis. Shares of BMY traded higher by 2.32% or $0.67/share to $29.56. In the past year, the shares have traded as low as $24.26 and as high as $29.54. On average, 10435300 shares of BMY exchange hands on a given day and today's volume is recorded at 12833629.
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