A billion-dollar quibble to enter hepatitis C market
Bristol-Myers Squibb Co. increased its bid for Inhibitex Inc. and its experimental hepatitis C drug twice in five days, raising its offer to $2.5 billion from $550 million to top an unnamed competitor, Bloomberg said. The purchase was the second major acquisition of a company for its hepatitis C assets in the past three months. Drugmakers are seeking to enter a developing $20 billion market for hepatitis C medicines that are easier to use and more effective than existing therapies.
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