Bristol-Myers Squibb (BMY) said over the weekend that it has agreed to buy Inhibitex (INHX)  for...

|About: Bristol-Myers Squibb Company (BMY)|By:, SA News Editor

Bristol-Myers Squibb (BMY) said over the weekend that it has agreed to buy Inhibitex (INHX)  for $2.5B as it looks to boost its pipeline ahead of the loss of patent protection for its blood thinner Plavix. The $26/share bid is over double Inhibitex's $9.87 close on Friday despite its main drug, for hepatitis C, only being in mid-stage trials. (PR)