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Bristol-Myers Squibb Company

Drug Names(s): INX-08189, INX-189

Description: INX-189 is a nucleoside inhibitor of the RNA-dependent RNA polymerase (NS5b) of HCV. Structurally, it is a phosphoramidate based pro-drug of an O6-methylmodified 2'-C-Methylguanosine monophosphate.

Deal Structure: In January 2012, Bristol-Myers Squibb and Inhibitex announced that the companies signed a definitive agreement under which Bristol-Myers Squibb will acquire Inhibitex for $26.00 per share in cash pursuant to a cash tender offer and second step merger. The transaction, with an aggregate purchase price of approximately $2.5 billion, has been approved by the boards of directors of both companies. The board of directors of Inhibitex has agreed to recommend that Inhibitexs shareholders tender their shares in the tender offer. In addition, shareholders with beneficial ownership of approximately 17% of Inhibitexs common stock have entered into agreements with Bristol-Myers Squibb to support the transaction and to tender their shares in the tender offer.

Under the terms of the definitive agreement, Bristol-Myers Squibb will commence a cash tender offer to purchase all of the outstanding shares of Inhibitexs common stock for $26.00 per share. The closing of the tender offer is subject to...See full deal structure in Biomedtracker

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