Bristol-Myers Denial of Deal Sends Amgen Stock Tumbling

Amgen Inc. shares tumbled Thursday after Bristol-Myers Squibb Co. denied rumors that it is in talks to acquire the biotechnology company.

“Bristol-Myers Squibb is not and has not been in any discussions with Amgen regarding the acquisition of the company,” the New York-based drug company said in a statement.

Bristol-Myers said it broke with its policy of not commenting on rumors because “the persistent and widespread speculation on Bristol-Myers Squibb and Amgen should be laid to rest.”

Thousand Oaks-based Amgen closed down $4 at $66.75 on Nasdaq after falling as much as $4.75 earlier in the day, following Bristol-Myers’ announcement.

On Wednesday, Amgen had soared $5.375 as speculation intensified that the company might soon be acquired by Bristol-Myers for $90 a share.