Bristol Myers Squibb Acquires RayzeBio for $4.1 Billion

Bristol Myers Squibb to Acquire Orbital Therapeutics in $1.5 Billion Deal

October 11, 2025

Biotechnology

Bristol Myers Squibb (BMS) has entered into an agreement to acquire Orbital Therapeutics, a privately held biotechnology company developing RNA medicines. The $1.5 billion cash deal will give BMS Orbital’s lead candidate OTX-201 and its proprietary RNA platform, supporting BMS’s efforts to advance in vivo CAR T and immunotherapy approaches.

Bristol Myers Squibb to Acquire Turning Point Therapeutics

June 3, 2022

Healthcare Services

Bristol Myers Squibb (BMS) entered a definitive merger agreement to acquire Turning Point Therapeutics for $76.00 per share in an all-cash transaction valued at $4.1 billion. The deal was expected to close in Q3 2022 via a tender offer followed by a second-step merger. BMS later announced that it completed the acquisition, making Turning Point a wholly owned subsidiary.

Bristol Myers Squibb to Acquire Mirati Therapeutics in $4.8B Cash-and-CVR Deal

October 13, 2023

Pharmaceuticals

Bristol Myers Squibb has entered into a definitive merger agreement to acquire Mirati Therapeutics for $58 per share in cash, valuing the transaction at $4.8 billion in equity value. The deal also includes a non-tradeable contingent value right (CVR) that could provide up to an additional $1 billion of value tied to regulatory acceptance of an NDA for Mirati’s MRTX1719.

Bristol Myers Squibb to Acquire Karuna Therapeutics in $14.0B Deal

December 22, 2023

Pharmaceuticals

Bristol Myers Squibb (BMS) and Karuna Therapeutics entered into a definitive merger agreement under which BMS will acquire Karuna for $330 per share in cash, valuing Karuna’s equity at about $14.0 billion (about $12.7 billion net of estimated cash acquired). The deal is expected to close in the first half of 2024, subject to customary approvals and regulatory conditions.

AstraZeneca Acquires Fusion Pharmaceuticals

March 19, 2024

Biotechnology

AstraZeneca has entered into a definitive agreement to acquire Fusion Pharmaceuticals Inc., a clinical-stage company developing next-generation actinium-based radioconjugates, for $21.00 per share in cash plus a non-transferable contingent value right that could bring the total to approximately $2.4 billion. The acquisition adds Fusion's pipeline (including FPI-2265 for mCRPC), R&D and manufacturing capabilities in radioconjugates and strengthens AstraZeneca's oncology portfolio and presence in Canada.

Bruker Corporation to Acquire PhenomeX Inc for $108 Million

August 17, 2023

Medical Devices

Bruker Corporation has signed a definitive agreement to acquire PhenomeX Inc in an all-cash transaction valued at approximately $108 million equity value ($1.00 per share). The deal is expected to close in the fourth quarter of 2023, subject to customary closing conditions, after which PhenomeX will merge into a wholly owned Bruker subsidiary.