BioCentury
ARTICLE | Strategy

Longer-term thinking

July 27, 2009 7:00 AM UTC

Having spent the last two years taking care of its upcoming patent cliff, Bristol-Myers Squibb Co. is now focused on stage three of its growth plan, beefing up its post-2014 pipeline and biologics platform with the proposed acquisition of Medarex Inc. for $16 per share, or about $2.4 billion in cash.

The pharma looks to be getting a good deal, as the net price of $2.1 billion is less than what other mAb platform companies with thinner pipelines have fetched...