Published on 29 Dec 2023 on Zacks via Yahoo Finance
Biotech Stock Roundup: BMY's KRTX and RYZB Acquisition, CYTK Surges on Study Data
It has been an unexpectedly busy week for the biotech sector, despite the holiday season, as the mergers and acquisitions activities heat up. Study read-outs and other news were also in the spotlight. Biotech bigwig Bristol Myers BMY announced two multi-billion buyouts in a week, leading to a massive surge of the companies on the radar.
Recap of the Week’s Most Important Stories:
BMY on Acquisition Spree: Bristol Myers has announced two back-to-back acquisitions in a week as the company looks to expand and strengthen its portfolio in light of generic competition for its two largest drugs.