Bristol Myers Squibb to Pay $13.1 Billion for MyoKardia

Bristol Myers Squibb (BMS) is expanding its lineup of cardiovascular drugs by acquiring Brisbane, Calif., drugmaker MyoKardia for $13.1 billion in a transaction that is expected to close before year’s end.

The deal gives BMS mavacamten, MyoKardia’s investigational treatment for obstructive hypertrophic cardiomyopathy, a chronic heart disease afflicting up to 200,000 individuals in the U.S. and the EU.

The companies expect to file a new drug application with the FDA for that indication in the first quarter of 2021, and BMS also plans to seek additional approvals for the drug.