SEATTLE Bristol-Myers Squibb will acquire Seattle-based biotech ZymoGenetics, Bristol said Wednesday.
The New York-based drug maker will acquire ZymoGenetics for $885 million, or $9.75 per share. The boards of both companies approved the deal unanimously.
The buyout gives Bristol ownership of Recothrom, used to control bleeding during surgical procedures, pegylated-interferon lambda, an investigational treatment for hepatitis C in mid-stage clinical trials, and IL-21, a treatment for melanoma also in mid-stage trials.
“The acquisition of ZymoGenetics brings us full ownership of a promising investigational biologic that strengthens our very diversified hepatitis C portfolio,” Bristol CEO Lamberto Andreotti said. “Building on our leadership in virology, we are developing a strong portfolio to help patients with hepatitis C.”