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Bulletin: Bristol-Myers Squibb Co.'s $2.5 Billion Acquisition Of Inhibitex Inc. Has No Effect On Ratings, Outlook Jan 12
Standard & Poors, Jan 2012
Abstract
NEW YORK (Standard & Poor's) Jan. 9, 2012--Standard & Poor's said today that Bristol-Myers Squibb Co.'s (BMS, A+/Stable/A-1) agreement to purchase unrated, development-stage pharmaceutical company Inhibitex Inc. for $2.5 billion in cash does not affect its ratings or outlook on the company. While Inhibitex has no marketed products, it does have a potentially highly effective treatment for Hepatitis C infection, INX 189, in the second stage of clinical testing. The currently approved treatments are only appropriate for a minority of infected patients, presenting a large, unmet medical need. We believe the product will require at least three more years of development before reaching the market, if approved, and there will not be any meaningful benefit to BMS in the near...
Companies mentioned in this report are: Bristol-Myers Squibb Co.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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