Japan's Ono Pharma says $2.4 billion Deciphera purchase 'first step' for global expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
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Source: Yahoo Finance
- Ono Pharmaceutical's Acquisition: Ono Pharma announced a $2.4 billion takeover of Deciphera Pharmaceuticals as a strategic move to expand in U.S. and European markets.
- Strategic Expansion: The acquisition by Ono Pharma aligns with the trend of Japanese pharmaceutical companies like Takeda Pharmaceutical and Astellas Pharma investing significantly to enhance their drug pipelines.
- CEO Statement: Ono Pharma CEO Gyo Sagara highlighted that this acquisition is the first step towards accelerating sales growth by obtaining a pipeline from external sources.
- Key Products: The purchase includes Deciphera's oral drug Qinlock for gastrointestinal cancer treatment and Vimseltinib for joint tumor treatment, aiming for peak global sales of $1 billion.
- Market Impact: Ono Pharma offered a premium of 74.7% per share to Deciphera, leading to a 73% surge in Deciphera shares and a 1% decline in Ono Pharma shares following the announcement.
Analyst Views on BMY
Wall Street analysts forecast BMY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BMY is 55.86 USD with a low forecast of 37.00 USD and a high forecast of 68.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
8 Buy
11 Hold
1 Sell
Moderate Buy
Current: 54.940
Low
37.00
Averages
55.86
High
68.00
Current: 54.940
Low
37.00
Averages
55.86
High
68.00
About BMY
Bristol-Myers Squibb Company is a global biopharmaceutical company. It is engaged in the discovery, development and delivery of transformational medicines for patients facing serious diseases in areas: oncology, hematology, immunology, cardiovascular, neuroscience and other areas. Its growth portfolio includes Opdivo (nivolumab), Opdivo Qvantig (nivolumab and hyaluronidase-nvhy), Yervoy (ipilimumab), Reblozyl (luspatercept-aamt), Opdualag (nivolumab and relatlimab-rmbw), Breyanzi (lisocabtagene maraleucel), Camzyos (mavacamten), Zeposia (ozanimod), Abecma (idecabtagene vicleucel), and Sotyktu (deucravacitinib). Its other growth products include Onureg, Inrebic, and Empliciti. Its legacy portfolio includes Eliquis (apixaban), Revlimid (lenalidomide), Pomalyst/Imnovid (pomalidomide), Sprycel (dasatinib), and Abraxane (paclitaxel albumin-bound particles for injectable suspension). Opdivo (nivolumab) is a fully human monoclonal antibody that binds to the PD-1 on T and NKT cells.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
