Bristol-Myers Squibb Company (BMS) announced Tuesday that it had signed an agreement to acquire biopharmaceutical company ZymoGenetics for approximately $885 million, or $9.75 per share in cash.
Researchers in California may have discovered new drug targets to treat an incurable hereditary disease that leads to loss of motor coordination, dementia and death.
The New York Times reports that about 75 percent of patients taking telaprevir in combination with existing hepatitis C drugs were essentially cured of the virus, compared to 44 percent on standard therapy alone.
Vertex Pharmaceuticals has been busy raising cash to prepare for the launch of telaprevir to treat hepatitis C.
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