By Colin KellaherBristol Myers Squibb has struck a $4.1 billion deal to buy radiopharmaceutical therapeutics company RayzeBio. Bristol Myers on Tuesday said it will pay $62.50 a share in cash for RayzeBio, more than double Friday's closing price of $30.57 for the San Diego company. The RayzeBio transaction comes on the heels of Bristol's deal last week to buy neuroscience-drug developer Karuna Therapeutics for $14 billion. Bristol Myers said the deal, worth about $3.6 billion net of cash acquired, is slated to close in the first half of 2024. Bristol Myers said the RayzeBio deal adds a differentiated actinium-based radiopharmaceutical platform and a pipeline of multiple drug-development programs to its oncology franchise.

Source: Wall Street Journal December 26, 2023 12:34 UTC