Bristol Myers makes a $4.8B bet on KRAS, striking deal to acquire Mirati

Bris­tol My­ers Squibb has signed a $4.8 bil­lion deal to buy Mi­rati Ther­a­peu­tics and its can­cer drug Kraza­ti, which tar­gets what was once thought to be an elu­sive mu­ta­tion in KRAS.

The drug­mak­er will pay $58 per share, ac­cord­ing to a press re­lease Sun­day an­nounc­ing the deal. That’s about $2 less than Mi­rati’s clos­ing price Fri­day, af­ter the shares surged more than 40% fol­low­ing a Bloomberg re­port that Sanofi was look­ing at a deal for the biotech com­pa­ny.

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