Pharma BD Deal Intelligence
A first-in-class buy that paid off exactly as scripted: BMS's $13.1B all-cash deal for mavacamten cleared FDA in April 2022 as Camzyos and crossed blockbuster status with 2025 revenue above $1B—a clean, on-thesis cardiology win with no notable stumbles.
Ranks computed across 828 graded deals (Critic + Outcome Score both present).
BMS acquired MyoKardia for $13.1B for cardiovascular drug mavacamten.
FDA reduced echo monitoring to every 6 months for eligible stable patients and removed key contraindications.
Bristol Myers Squibb announced plans to purchase MyoKardia for $13.1 billion in an all-cash transaction, acquiring mavacamten for hypertrophic cardiomyopathy…
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BMS acquired MyoKardia in November 2020 for $13.1 billion (all-cash, $225/share) to obtain mavacamten, a first-in-class cardiac myosin inhibitor for obstructive hypertrophic cardiomyopathy. The thesis on a pre-revenue cardiovascular asset has been validated: launched as Camzyos after FDA approval in April 2022, the drug crossed blockbuster status with full-year 2025 revenue above $1 billion (Q4 2025 $353M, +77% YoY). An April 2025 FDA label simplification cut echo-monitoring burden and removed key contraindications, broadening the eligible population. The upside is now capped on two fronts: a 2025 Phase III failure in non-obstructive HCM removed a major expansion indication, and Cytokinetics' rival cardiac myosin inhibitor aficamten (Myqorzo) won FDA approval in December 2025, introducing the first direct class competitor in obstructive HCM.
833K US cases/yr · $650M Global HCM Market (2023)
Hypertrophic cardiomyopathy is a genetic cardiac disease affecting ~1 in 327 Americans. Mavacamten (Camzyos) became the first cardiac myosin inhibitor approved for obstructive HCM in 2022, transforming a market previously limited to beta-blockers, calcium channel blockers, and septal reduction therapy.
BMS (Camzyos, $1B+ run-rate) dominates the emerging cardiac myosin inhibitor class. Cytokinetics (aficamten) received FDA approval in 2024 as the second entrant. The market is projected to grow >20% CAGR as diagnosis rates improve and treatment paradigms shift from surgical intervention to pharmacotherapy.
BMS closed acquisition of MyoKardia for $13.1B, gaining mavacamten for hypertrophic cardiomyopathy.
FDA approved mavacamten as Camzyos, first cardiac myosin inhibitor for symptomatic obstructive HCM.
EC approved Camzyos for obstructive HCM, expanding addressable market beyond the US.
Sales rose 160%+ YoY to $602M, on trajectory for blockbuster from oHCM alone. Reflects financial performance following Bristol-Myers Squibb Co.'s $13.1B acquisition of MyoKardia Inc..
FDA reduced routine echo monitoring (every 12 weeks -> every 6 months for stable maintenance-phase patients with LVEF >=55%) and removed contraindications for moderate CYP2C19 / strong CYP3A4 inhibitors, reclassifying them as manageable interactions. Broadens the addressable patient pool.
Phase III in nHCM failed both co-primary endpoints, halving potential market. Peak sales cut from $4B to ~$2B.
FDA approved Cytokinetics' aficamten (Myqorzo) for symptomatic obstructive HCM, the second cardiac myosin inhibitor after mavacamten and the first direct competitor to Camzyos. Commercial launch expected early 2026.
Camzyos full-year 2025 revenue surpassed $1 billion (up ~77% YoY), with Q4 2025 sales of $353M (+57%). One of three newer BMS products each exceeding $1B for the year, validating the $13.1B MyoKardia thesis.
Camzyos achieved FDA/EU approval and $602M in 2024 but nHCM Phase III failure cut market in half. ROI depends on oHCM alone.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Bristol-Myers Squibb Company / MyoKardia Inc. (this deal) | 2020 | $13.1B | 76 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Bristol-Myers Squibb Company / Celgene Corporation | 2019 | $74.0B | 77 |
| Bristol-Myers Squibb Company / Karuna Therapeutics | 2023 | $14.0B | 76 |
| Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd. | 2011 | — | 76 |
| Bristol-Myers Squibb Company / SystImmune Inc. | 2023 | $8.4B | 71 |
| Bristol-Myers Squibb Company / Turning Point Therapeutics Inc. | 2022 | $4.1B | 70 |
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More: 2020 deals · Bristol-Myers Squibb Company deals · Cardiovascular deals