Bristol-Myers Squibb Buys Kosan Biosciences

  • May 30, 2008
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

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