Bristol Myers Squibb Co is to acquire Turning Point Therapeutics Inc, a US oncology drug developer, in a bid to move ahead of its competitors in the field of treatments for non-small cell lung cancer. It is offering $76 per share of Turning Point’s stock in an all cash transaction valued at $4.1 billion. Turning Point’s lead asset, repotrectinib, is a tyrosine kinase inhibitor targeting the ROS1 gene in lung cancer. It is currently in a late stage clinical development.
