Bristol-Myers to Acquire Biotech Company

Sept. 8, 2010, 9:03 PM UTC

Bristol-Myers Squibb Co. and ZymoGenetics Inc. Sept. 7 announced that they have signed a definitive agreement under which Bristol-Myers will acquire ZymoGenetics for approximately $885 million.

The companies said the transaction has been unanimously approved by the boards of directors of both companies.

Seattle-based ZymoGenetics is a biopharmaceutical company focused on the development and commercialization of therapeutic proteins for the treatment of human diseases.

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