Bristol-Myers to acquire Adnexus for $430M

Bristol-Myers Squibb Co. said it will purchase biotech firm Adnexus Therapeutics for $430 million and up to $75 million in additional conditional payments, to help develop its class of drugs, called Adnectins, and expand the firm's investment in biologics. "We feel biologics will be a cornerstone of our future growth," a Bristol-Myers executive said.

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