The acquisition will help boost revenue by offsetting upcoming competition from generics for Bristol Myers Squibb’s best-selling products.
Shares in Bristol Myers Squibb Bristol Myers Squibb dipped Monday after the global biopharmaceutical company reached a deal to acquire Mirati Therapeutics, which specializes in cancer medicine, for up to $5.8 billion.
Mirati stock fell 1.7% to $59.20. The purchase price was less than Mirati’s closing price Friday of $60.20.
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