Covington Reps Bristol-Myers In $325M Amira Buy

Law360, New York (July 22, 2011, 8:04 PM EDT) -- Bristol-Myers Squibb Co. announced Thursday that it will pay $325 million in cash to buy Amira Pharmaceuticals Inc., a small-molecule pharmaceutical company focused on making new drugs to treat inflammatory and fibrotic diseases.

New York-based Bristol-Myers will acquire all of the outstanding shares in the privately held Amira, it said. Apart from the upfront payment, the deal includes potential future milestone payments that could total $150 million, the company said.

The purchase gives the pharmaceutical giant control of California-based Amira's fibrosis program, including a prototype drug...
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