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Why Inhibitex HCV failure cost BMS twice the $2.5B it paid for the biotech

Bristol-Myers Squibb Co.'s suspension and subsequent termination of BMS-986094 cost the pharma about $5 billion in market cap, double the $2.5 billion it paid to add the HCV therapeutic to its pipeline less than nine months ago. The extra penalty suggests the Street has broadly devalued the pharma's now "nuc"-less

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