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

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 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.

Bristol Myers Squibb Acquires RayzeBio for $4.1 Billion

December 26, 2023

Healthcare Services

Bristol Myers Squibb (BMS) and RayzeBio have announced a definitive merger agreement under which BMS will acquire RayzeBio for $62.50 per share in cash, valuing the equity at approximately $4.1 billion. The deal is expected to close in the first half of 2024, subject to customary closing conditions.

Merck & Co. Acquires Cidara Therapeutics

January 8, 2026

Biotechnology

Merck & Co., through subsidiary Merck Sharp & Dohme LLC, completed a cash tender offer to acquire Cidara Therapeutics, Inc. for $221.50 per share, making Cidara a wholly owned subsidiary. The acquisition adds Cidara's long-acting antiviral candidate CD388 to Merck's respiratory portfolio and is being accounted for as an asset acquisition.

Mirum Pharmaceuticals Acquires Bluejay Therapeutics

January 26, 2026

Pharmaceuticals

Mirum Pharmaceuticals has completed the acquisition of Bluejay Therapeutics, adding brelovitug — a late‑stage monoclonal antibody for chronic hepatitis delta virus (HDV) — to its rare liver disease pipeline. The deal gives Mirum worldwide rights to the AZURE Phase 3 program and includes a combination of cash and Mirum common stock with potential sales‑based milestone payments; Mirum also raised approximately $268.5M in concurrent financing to support development and commercialization.