The acquisition of the cancer therapeutics company is expected to enhance Bristol-Myers Squibb's pipeline with compounds in two classes of anticancer agents: novel Hsp90 (heat shock protein 90)
inhibitors and epothilones, per the company.
The transaction, with a net aggregate purchase price of approximately $190 million after deducting Kosan's projected net cash balance at June
30, has been unanimously approved by the boards of directors of both companies.
--Nina M. Lentini