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Bristol Myers interested in buying Aurinia Pharma

by Mike Robinson

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© Reuters. FILE PHOTO A sign is seen outside the Bristol Myers Squibb plant in Cambridge, Massachusetts. This was May 20, 2021. REUTERS/Brian Snyder/File Photo

(Reuters) – Bristol Myers (NYSE 🙂 Squibb Co expressed an interest in purchasing Aurinia Pharmaceuticals, an autoimmune drug-developer, Bloomberg News reported Friday, citing sources familiar with the matter.

According to Refinitiv data, Aurinia shares rose nearly 27% after the news. This gave it a market capitalization at $3.59 Billion.

Reports indicated that no definitive decision had been reached and Bristol Myers could withdraw from a possible deal.

Aurinia, Bristol Myers, and Aurinia both declined to comment.

According to Aurinia’s website, the company sells treatment for a condition called Lupus Nephritis. It is also testing treatments for other diseases such as autoimmune or kidney disease.

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