Reports: Bristol-Myers Squibb could be takeover target

PRINCETON, N.J. — Roche, Novartis and Pfizer are actively exploring a takeover of Bristol-Myers Squibb, while Gilead might be “considering the idea” of making an acquisition offer, according to reports from Streetinsider.com and Barrons.com. However, no deal is considered imminent.

Barron’s cited one person’s view of the potential deal, Evercore ISI’s Mark Schoenebaum: “If Bristol can get paid out for an assumption they will own lung cancer, an assumption the market is now making now…this management team would respond to a numbers argument,” Schoenebaum said in a video recording.

Bristol-Myers Squibb’s stock advanced 3% on Feb. 14 based upon this news.

According to news outlets, Bristol-Myers Squibb is considered a favorable acquisition target because its stock declined after it announced that it will not seek an accelerated regulatory approval for a combination of its Opdivo (nivolumab) and Yervoy (ipilimumab) as a first-line treatment for lung cancer. But the company later asserted it is committed to the development of the drug combination.