Bristol-Myers Squibb (BMS) has a long-standing history of strategic mergers and acquisitions (M&A) aimed at bolstering its pharmaceutical portfolio and expanding its reach in various therapeutic areas. Below is a chronological overview of significant M&A activities:
Key Mergers and Acquisitions:
- 1989: Bristol-Myers merges with Squibb, creating Bristol-Myers Squibb, the world’s second-largest pharmaceutical enterprise at the time.
- 2009: Acquisition of Medarex for $2.4 billion, enhancing BMS’s oncology and immunology pipeline.
- 2008: Acquisition of Kosan Biosciences for $190 million, aiming to enhance BMS’s oncology pipeline with novel cancer therapeutics.
- 2010: Purchase of ZymoGenetics for $885 million, expanding BMS’s capabilities in biologics and hepatitis C treatments.
- 2012: Acquisition of Inhibitex Inc. for approximately $2.5 billion to strengthen BMS’s position in hepatitis C drug development.
- 2012: Purchase of Amylin Pharmaceuticals for approximately $5.3 billion, aiming to strengthen its diabetes treatment portfolio
- 2014: Purchase of iPierian for up to $725 million, focusing on neurodegenerative disease treatments.
- 2015: Acquisition of Flexus Biosciences for $1.25 billion, enhancing BMS’s immuno-oncology pipeline.
- 2015: Purchase of Cardioxyl Pharmaceuticals for up to $2.075 billion, aiming to expand BMS’s cardiovascular portfolio.
- 2016: Acquisition of Padlock Therapeutics for up to $600 million, focusing on autoimmune disease treatments.
- 2016: Purchase of Cormorant Pharmaceuticals for $520 million, bolstering BMS’s oncology offerings.
- 2017: Acquisition of IFM Therapeutics for $300 million upfront, with potential milestone payments, to strengthen BMS’s cancer immunotherapy pipeline.
- 2019: Acquisition of Celgene Corporation for approximately $74 billion, creating a leading biopharma company with a strong focus on oncology, hematology, immunology, and cardiovascular disease.
- 2020: Acquisition of Forbius, adding a lead TGF-beta asset to BMS’s portfolio.
- 2020: Acquisition of MyoKardia for $13.1 billion, strengthening BMS’s cardiovascular franchise with the addition of mavacamten, a treatment for obstructive hypertrophic cardiomyopathy.
- 2022: Purchase of Turning Point Therapeutics for $4.1 billion, expanding BMS’s precision oncology portfolio.
Strategic Decisions and Reasoning:
BMS’s M&A strategy has been driven by the goal of enhancing its therapeutic capabilities and addressing unmet medical needs. The merger with Squibb in 1989 established a foundation for growth, combining strengths in various therapeutic areas. The acquisition of Medarex in 2009 provided access to innovative immunotherapy technologies, leading to the development of successful treatments like ipilimumab and nivolumab. The Celgene acquisition in 2019 significantly bolstered BMS’s oncology and hematology portfolios, adding blockbuster drugs such as Revlimid and Pomalyst. The purchase of MyoKardia in 2020 aligned with BMS’s focus on innovative cardiovascular treatments, while the acquisition of Turning Point Therapeutics in 2022 expanded its precision oncology offerings.
Successes and Challenges:
Many of BMS’s acquisitions have resulted in successful integration and expansion of its product offerings. However, some deals have faced challenges. For instance, the acquisition of Inhibitex in 2012 for $2.5 billion aimed to strengthen BMS’s position in hepatitis C treatments, but the lead product did not meet expectations. Overall, BMS has demonstrated resilience and adaptability in its M&A strategy, learning from past experiences to inform future decisions.
Recent Activities in 2024:
In 2024, BMS continued its strategic expansion with the acquisition of Karuna Therapeutics for $14 billion, strengthening its neuroscience portfolio with KarXT, a potential first-in-class treatment for schizophrenia. Additionally, BMS acquired RayzeBio for $4.1 billion, adding a premier radiopharmaceutical platform to its oncology offerings. These acquisitions align with BMS’s commitment to innovative therapies and addressing unmet medical needs.
Also, in 2024 acquisition of Mirati Therapeutics for $4.8 billion, with an additional $1 billion in contingent value rights happen to strengthen BMS’s oncology portfolio.
Through these strategic M&A activities, Bristol-Myers Squibb has solidified its position as a leading biopharmaceutical company, continually evolving to meet the challenges of the healthcare landscape.
As of February 10, 2025, there have been no publicly announced mergers or acquisitions by Bristol-Myers Squibb (BMS) in 2025.