BMS added to its holdings this week when it announced the purchase of Amira Pharmaceuticals for $325 M upfront with milestones that could total another $150 M. The key to the deal was BMS acquisition of new drugs (namely AM152 an LPA1 antagonist) for pulmonay fibrosis. A new thearpeutic area with no approved FDA treatments.
"As part of the continued execution of our focused biopharma strategy, BMS has identified fibrotic diseases as an area of high unmet medical need that complements our research efforts in several of our therapeutic areas," said Elliott Sigal, the company's president of R&D.
Thus, BMS remains true to its "string of pearls" acquisition strategy for enhancing its portfolio and patients should benefit by the pursuit of a treatment in a novel therapeutic area -- which is good to see. See Fierce Biotech.
Posted by Bruce Lehr July 28th 2011.