First, Jana Partners pressured the drugmaker into adding three new board members and announcing a stock buyback deal. Jana became a shareholder in BMS in the fourth quarter of 2016.
Carl Icahn just jumped into a $90 billion drug maker, and people are betting it'll be a takeover target (BMY)
Carl Icahn's reported investment in Bristol-Myers has left the industry buzzing about which company could be a potential buyer.
Now, The Wall Street Journal reports that billionaire Carl Icahn has invested in the company, reportedly because he thinks the company's drug portfolio could be ripe for a takeover.
Analysts have said that the company could make for a good acquisition, but more data on its cancer immunotherapy drugs may need to come in first.
Given Bristol-Myers Squibb market capitalization, any deal would likely be worth more than $100 billion, as takeover offers usually occur at a premium to the existing share price.
That would make it a blockbuster transaction.
Heres what you need to know about Bristol-Myers
- treatment.
- Investors expect
- Trials are currently underway
- key lung cancer trial
- succeeded
- when the full data
- said that
- approval
- for the combination of its two immunotherapy drugs as an initial treatment for
- lung
- cancer. This helped Merck secure its lead in lung cancer combination treatments.
Beyond cancer immunotherapy, BMS also makes the bloodthinner Eliquis in collaboration with drug giant Pfizer, and treatments for hepatitis C and rheumatoid arthritis. It's also one of a growing number of companies going after NASH, a type of liver disease that's estimated to affect about 16 million Americans.