Bristol Myers Squibb said on Friday it would acquire drug developer Turning Point Therapeutics Inc for $4.1 billion in cash to gain access to a portfolio of promising cancer drugs.
The U.S. drugmaker will pay $76 per Turning Point share, a 122.5% premium to its last closing price.
Turning Point's lead asset is repotrectiniba that belongs to a class of treatments called tyrosine kinase inhibitors.Register now for FREE unlimited access to Reuters.comGlobal Healthcare Sign up to our health newsletter to keep up with the latest healthcare trends and pharmaceutical news.
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