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news.Bristol-Myers Squibb Company has signed a definitive agreement to acquire Inhibitex for an aggregate purchase price of around $2.5bn.
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Inhibitex, a biopharmaceutical company, is primarily focuses on the development of nucleotide/nucleoside analogs for the treatment of hepatitis C virus (HCV).
The company’s lead HCV asset is INX-189, an oral nucleotide polymerase (NS5B) inhibitor in Phase II development that has exhibited potent antiviral activity, a high barrier to resistance and pan-genotypic coverage.
The deal is believed to strengthen Inhibitex’s wide HCV Portfolio.
Bristol-Myers Squibb CEO Lamberto Andreotti said the acquisition builds on Bristol-Myers Squibb’s expertise in developing and delivering innovative new medicines in virology.
"This acquisition represents an important investment in the long-term growth of the company," Andreotti added.