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    Bristol, needing a cancer immunotherapy boost, pays shockingly steep price for Nektar drug

    by Adam Feuerstein Feb 14, 2018 2 minutes
    Killer T cells surround a cancer cell.

    Bristol-Myers Squibb, seeking a new way to make its cancer immunotherapies more effective, is paying a shockingly steep — some will say desperate — price to lock up rights to an experimental drug from Nektar Therapeutics.

    Under deal terms announced Wednesday, Bristol is paying $1 billion in cash and will make a $850 million equity investment in Nektar at an above-market price

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