Bristol Myers interested in buying Aurinia Pharma – Bloomberg News

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Oct 22 (Reuters) – Bristol Myers Squibb Co (BMY.N) has expressed curiosity in buying autoimmune illness drug developer Aurinia Pharmaceuticals Inc (AUPH.O), Bloomberg News reported on Friday, citing individuals conversant in the matter.

Aurinia’s shares closed up almost 27% on the news, giving it a market capitalization of $3.59 billion, based on Refinitiv information.

The report stated no last choice has been made and that Bristol Myers might choose out of a possible deal.

Both Bristol Myers and Aurinia declined to touch upon the matter.

Aurinia sells a remedy for a kidney dysfunction referred to as lupus nephritis and is testing out therapies for different autoimmune and kidney ailments, based on its web site.

Reporting by Amruta Khandekar and Ruhi Soni; Editing by Devika Syamnath

A sign stands outside a Bristol Myers Squibb facility in Cambridge, Massachusetts, U.S., May 20, 2021. REUTERS/Brian Snyder/File Photo