BMY Makes Billion Dollar Bet on Senior Heart Treatment

Bristol-Myers Squibb (BMY) announced that it is acquiring Cardioxyl Pharmaceuticals for a deal valued at up to $2 billion dollars, depending on milestone achievement. Cadioxyl has a treatment in phase 2 clinical development for acute decompensated heart failure. That mouthful of a name basically means the onset of symptoms (e.g., shortness of breath) in patients with heart failure leading to hospitalization, which is the most common cause of hospitalization for patients over 65.

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