Bristol-Myers Squibb (BMS) to Acquire Celgene for $74B

Bristol-Myers Squibb (BMS) to Acquire Celgene for $74B

Shots:

  • BMS acquires Celgene, in all stock transaction for $74B. Celgene to receive $50/share, 1 BMS share and 1 Contingent Value Right (CVR) of $9 cash as regulatory milestone for each future approval of Celgene’s three drugs candidates ozanimod, liso-cel, bb2121
  • Celgene has received premium value of 54% on its last day closing share price making it $102.43/share. The focus of the acquisition is to expand its portfolio in Oncology, Immunology and Inflammation and CVD. The transaction is expected to close in Q3’19
  • Ozanimod is a P-III candidate indicated for RMS & UC with expected approval in Dec’20. Lisocabtagene maraleucel (JCAR01, liso-cel) is a CD19-CAR-T indicated for r/r B cell lymphoma, PMBCL, FL Gr-3B, and MCL with expected approval in Dec’20

CI Comments/ Implications:

  • With the acquisition of Celgene, BMS will have one of the biggest oncology segments after gaining access to nine drugs with ~evaluation of $9-10B sales/year
  • BMS also gains access to Juno’s upcoming CAR-T and other gene & cell therapy which was one of the voids in the BMS’s portfolio
  • It is going to be interesting to see the status of the Celgene & BeiGene deal as BeiGene planned to use Celgene’s molecules in combination with its Anti-PDx molecule as tislelizumab is one of the competitors for Opdivo

Click here to­ read full press release/ article | Ref: BMS| Image: Fiercebiotech

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