Bristol-Myers Squibb completes Amira Pharmaceuticals takeover

Bristol-Myers Squibb has completed the acquisition of Amira Pharmaceuticals, finalising a transaction that was originally announced in July 2011.

Having met all of the relevant regulatory approval obligations, the small molecule pharmaceuticals manufacturer has become a wholly-owned Bristol-Myers subsidiary.

Amira specialises in the discovery and early development of new drugs to treat inflammatory and fibrotic diseases, including its lead asset AM152, an orally available lysophosphatidic acid 1 receptor antagonist.

This compound has completed phase I trials and will soon begin phase IIa proof-of-confidence studies as a therapy for idiopathic pulmonary fibrosis and systemic sclerosis.

By purchasing Amira, Bristol-Myers Squibb will be able to enter the fibrotic diseases sector for the first time, a field that it has identified as having a high unmet medical need, as well as being complementary to its existing operations.

The total purchase price for the takeover was $325 million (203.7 million pounds), with the deal being an all-cash transaction.