Bristol-Myers Squibb Buys Medarex: Adds Eighth ‘Pearl' To String

Bristol-Myers Squibb is buying the biotech company Medarex in a deal valued at $2.4 billion, or $16.00 per share in cash, the companies announced July 22. In doing so, Bristol gains full rights to the late-stage cancer drug ipilimumab and to innovative technologies for developing immunology and oncology humanized antibodies