Pharma BD Deal Intelligence

Bristol-Myers Squibb Company / ZymoGenetics, Inc.

2010 · Acquisition/Merger · $885M · Complete

WRONG BY 50 POINTS
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The coverage arc

Sep 07, 2010 Fierce Biotech Neutral

Bristol-Myers Squibb struck a deal to buy Seattle-based ZymoGenetics for $885 million, snaring its development partner on a mid-stage hepatitis C program; for…

Sep 08, 2010 The Cancer Consortium Neutral

BMS gains 'the biggest prize' in PEG-IFN lambda inside a global HCV market valued at $4B in 2009 and forecast to $8.5B by 2016 — but the competitive set…

Jun 01, 2015 PMC / Bench-to-Clinic review (peginterferon lambda-1a) Bearish

PEG-IFN lambda showed comparable HCV antiviral activity to IFN-alfa with substantially reduced hematologic and flu-like toxicity, but development was overtaken…

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BMS agreed to acquire ZymoGenetics for $9.75/share cash, ~$885M aggregate (~$735M net of cash). Strengthened HCV portfolio (PEG-IFN lambda) and oncology pipeline.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Dilutive
Pipeline outcome
Assets Stalled

Key facts

Related deals — scored

DealYearValueOutcome
Bristol-Myers Squibb Company / ZymoGenetics, Inc. (this deal)2010$885M19
Bristol-Myers Squibb Company / Medarex Inc.2009$2.4B92
Bristol-Myers Squibb Company / Celgene Corporation2019$74.0B77
Bristol-Myers Squibb Company / MyoKardia Inc.2020$13.1B76
Bristol-Myers Squibb Company / Karuna Therapeutics2023$14.0B76
Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd.201176
Bristol-Myers Squibb Company / SystImmune Inc.2023$8.4B71

Compare all 7 side-by-side →

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