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Covington Represents Bristol Myers Squibb in $4.1 Billion Acquisition of RayzeBio

Press Release December 26, 2023

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  • Covington Represents Bristol Myers Squibb in $4.1 Billion Acquisition of RayzeBio

Covington Represents Bristol Myers Squibb in $4.1 Billion Acquisition of RayzeBio

December 26, 2023

WASHINGTON—Covington advised Bristol Myers Squibb in its merger agreement to acquire RayzeBio for $62.50 per share in cash, for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired.

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases.

RayzeBio is a clinical-stage radiopharmaceutical therapeutics company with an innovation-leading position in actinium-based RPTs and a pipeline of potentially first-in-class and best-in-class drug development programs.

The Covington team included Catherine Dargan, Mike Riella, Kyle Rabe, and Ingrid Rechtin (M&A), Mike Francese (benefits), Natalie Derzko and Marie Lavalleye (intellectual property), Michael Stern and Peter Bogaert (regulatory), and Amy Toro (licensing/collaboration).

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