Why Is RayzeBio Stock Up 100% Today?
This is the second big buy in a week for Bristol Myers, which has a market cap of over $106 billion. Earlier it bought Karuna Therapeutics ( $Karuna Therapeutics(KRTX.US$ ), for $14 billion. Karuna makes drugs targeting schizophrenia and Alzheimer’s.
RayzeBio has not yet gotten any drugs approved. It has one drug, RYZ101, in a Stage 3 clinical trial, for treating endocrine tumors. The drug also holds promise against some forms of lung cancer.
Bristol Myers said in a press release that RayzeBio’s “actinium-based” platform can offer high potency against solid tumors, with a short range of radiation limiting damage to patients.
RayzeBio has not yet gotten any drugs approved. It has one drug, RYZ101, in a Stage 3 clinical trial, for treating endocrine tumors. The drug also holds promise against some forms of lung cancer.
Bristol Myers said in a press release that RayzeBio’s “actinium-based” platform can offer high potency against solid tumors, with a short range of radiation limiting damage to patients.
What Happens Next?
Drug mergers accelerated in 2023 and should keep growing next year. Drug companies are also pushing back against antitrust efforts.
Big pharma has also seen rising profits. Bristol Myers recently raised its dividend, with earnings growing at 36% per year.
You should expect more drug mergers next year, as big companies with expiring patents seek new product pipelines. But you should also expect more controversy, as antitrust enforcement gears up.
Drug mergers accelerated in 2023 and should keep growing next year. Drug companies are also pushing back against antitrust efforts.
Big pharma has also seen rising profits. Bristol Myers recently raised its dividend, with earnings growing at 36% per year.
You should expect more drug mergers next year, as big companies with expiring patents seek new product pipelines. But you should also expect more controversy, as antitrust enforcement gears up.
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