Bristol-Myers Squibb Company entered a merger agreement with Celgene Corporation with an equity cost of nearly $74 billion. This deal is anticipated to create a leading biopharma establishment, with a capability to address the patient’s needs with cancer, cardiovascular disorders, inflammatory and immunologic disease. With corresponding areas of emphasis, the joint company will function through global range, continuing the swiftness and agility as a core strategy of the company.
Bristol Myers Squibb’s intense competition with Merck in the oncology market is well known. This deal will strengthen the company’s position in the market. Interim launch is showing a potential of over $15 billion profits. There are six expected product launches in the near future by both the companies together: TYK2 and ozanimod in immunology and inflammation, and luspatercept, liso-cel (JCAR017), bb2121 and fedratinib in hematology.
Giovanni Caforio, Chairman & CEO of Bristol-Myers Squibb stated that “As a combined entity, we will enhance our leadership positions in cancer, immunology and inflammation and cardiovascular disease, and benefit from an expanded early and late stage pipeline. Together, our pipeline holds significant promise for patients, allowing us to accelerate new options through a broader range of cutting-edge technologies and discovery platforms.”
Mark Alles, Chairman and CEO of Celgene stated that “For more than 30 years, Celgene’s commitment to leading innovation has allowed us to deliver life-changing treatments to patients in areas of high unmet need. Combining with Bristol-Myers Squibb, we are delivering immediate and substantial value to Celgene shareholders and providing them meaningful participation in the long-term growth opportunities created by the combined company,”
– Rikitha K Murthy,