Bristol Myers Boosts Cancer Drug Portfolio With $4.1 Billion Turning Point Deal

Logo of global biopharmaceutical company Bristol-Myers Squibb on its building in Le Passage, near Agen, France, on March 29, 2018. Regis Duvignau/Reuters

Bristol Myers Squibb Co. said on Friday it will acquire drug developer Turning Point Therapeutics Inc. for $4.1 billion in cash to help bolster its arsenal of cancer drugs.

Turning Point’s lead drug, repotrectinib, targets mutations in certain proteins in the body that lead to unchecked cell growth.