Bristol Myers buys Orbital Therapeutics for $1.5 billion in cell therapy push

By Christy Santhosh (Reuters) -Drugmaker Bristol Myers Squibb said on Friday it will acquire privately held cell therapy developer Orbital Therapeutics for $1.5 billion in cash, aiming to diversify from legacy products facing competition from generic drugs. The deal expands Bristol Myers Squibb's CAR T-cell immunotherapy portfolio with Orbital's lead experimental candidate, OTX-201, which is designed to target autoimmune diseases. This marks the company's first major acquisition of the year, as it shift ...