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Bristol-Myers Squibb to acquire ZymoGenetics

9/8/2010

SEATTLE Bristol-Myers Squibb will acquire Seattle-based biotech ZymoGenetics, Bristol said Wednesday.


 


The New York-based drug maker will acquire ZymoGenetics for $885 million, or $9.75 per share. The boards of both companies approved the deal unanimously.


 


 


The buyout gives Bristol ownership of Recothrom, used to control bleeding during surgical procedures, pegylated-interferon lambda, an investigational treatment for hepatitis C in mid-stage clinical trials, and IL-21, a treatment for melanoma also in mid-stage trials.


 


 


“The acquisition of ZymoGenetics brings us full ownership of a promising investigational biologic that strengthens our very diversified hepatitis C portfolio,” Bristol CEO Lamberto Andreotti said. “Building on our leadership in virology, we are developing a strong portfolio to help patients with hepatitis C.”


 


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