JPMorgan says Bristol Myers’ (BMY) acquisition of Mirati Therapeutics (MRTX) will help to strengthen the company’s oncology portfolio. The firm expects Bristol will be able to leverage its global infrastructure to drive stronger performance for Krazati, Mirati’s KRASG12C inhibitor that received accelerated approval in second-line non-small cell lung cancer. Following the acquisition, Bristol’s leverage position is relatively unchanged allowing the company to pursue additional business development moving forward, the analyst tells investors in a research note. The firm keeps an Overweight rating on the shares.
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Read More on BMY:
- Mirati Therapeutics downgraded to Hold from Buy at JonesResearch
- Mirati Therapeutics downgraded to Hold from Buy at Jefferies
- Mirati downgraded to Market Perform from Outperform at JMP Securities
- Bristol Myers (NYSE:BMY) Boosts Oncology Portfolio with $5.8B Mirati Deal
- Bristol Myers to acquire Mirati Therapeutics for $58 per share
