Billionaire Investor Targets BMS

Feb 22, 2017

Activist investor Carl Icahn disclosed his stake in Bristol-Myers Squibb, fueling rumors that the company may be split up or sold.

Last week, StreetInsider reported that based on industry sources, Bristol-Myers Squibb was a prime target for takeover following the Opdivo setback, with at least three potential suitors -- Roche, Pfizer and Novartis. In January, BMS announced that it won't seek accelerated approval of its immunotherapy drug Opdivo for lung cancer, confirming that Merck would have a huge head start with its rival treatment Keytruda.

Icahn's involvement is known to cause shakeups and in this case, a potential sale or split could reshape the immuno-oncology landscape.

Read the Forbes article