Bristol Myers to buy MyoKardia for $ 13 billion

Bristol-Myers Squibb, one of the world’s leading pharmaceutical companies. Agreed to purchase the company Myokardia and its heart medicine for about $ 13.1 billion.

US pharmaceutical giant Bristol Myers Squibb said in a statement. For trying to reduce some of the dependence on cancer drugs. To support the heart disease therapies portfolio. Reported that he will buy MyoKardia for approximately $ 13 billion.

MyoKardia shares nearly doubled in value this year. After this news, it rose 58.5 percent to $ 221.

Heart medicine developed by MyoKardia. Being tested in the treatment of obstructive hypertrophic cardiomyopathy. It affects up to 200,000 people in the US and Europe.

Bristol Myers explained that the acquisition will provide “a driving force for medium and long term growth”.

Written by Maraaz

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