Markets

Amgen will buy a blockbuster psoriasis drug for $13.4 billion — and it’s part of a plan to get Celgene’s mega-merger with Bristol-Myers Squibb approved

Amgen will buy Otezla, Celgene‘s flagship psoriasis drug, for $US13.4 billion – or about $US11.2 billion after future cash tax benefits. The deal sweetens Celgene’s case to antitrust officials as it seeks approval for a $US74 billion merger with Bristol-Myers Squibb, which was first announced in January 2019. Shares of […]
Amgen will buy a blockbuster psoriasis drug for $13.4 billion — and it’s part of a plan to get Celgene’s mega-merger with Bristol-Myers Squibb approved
Markets

Bristol-Myers Squibb is selling off a blockbuster drug to help its $74 billion merger with Celgene get approved — and now both stocks are tumbling

Bristol-Myers Squibb announced Monday it would divest one of Celgene‘s most profitable drugs in order to avert regulatory pressure relating to the companies’ proposed merger. The New York-based pharmaceutical company announced its agreement to purchase Celgene for $US74 billion back in January. Bristol-Myers will divest Otezla, a drug used to […]
Bristol-Myers Squibb is selling off a blockbuster drug to help its $74 billion merger with Celgene get approved — and now both stocks are tumbling
News

Opposition to Bristol-Myers Squibb’s $74 billion acquisition of Celgene could endanger the deal, and the whole situation is ‘somewhat unprecedented’

Opposition to pharmaceutical company Bristol-Myers Squibb’s $US74 billion acquisition of Celgene is growing, and could endanger the deal. The acquisition is facing pushback from Bristol-Myers’ second-largest shareholder, the investment firm Wellington Management, and from activist investor Starboard Value. This level of uncertainty for such a large deal is “somewhat unprecedented” […]
Opposition to Bristol-Myers Squibb’s $74 billion acquisition of Celgene could endanger the deal, and the whole situation is ‘somewhat unprecedented’
Markets

Bristol-Myers’ record-breaking $74 billion biotech deal is in jeopardy

Bristol-Myers Squibb Co.’s $US74 billion takeover of Celgene is in jeopardy after Bristol-Myers’ second-largest shareholder turned against it. Wellington Management, which owns a 7.7% stake in Bristol-Myers, laid out three reasons it opposed the deal. The deal was questioned by investors and analysts since it was announced. Watch Bristol-Myers Squibb […]
Bristol-Myers’ record-breaking $74 billion biotech deal is in jeopardy
Markets

Bristol-Myers Squibb is buying Celgene in a $74 billion deal

Bristol-Myers Squibb has agreed to acquire Celgene, the drugmakers announced Thursday in a deal valued at $US74 billion. The deal will pay Celgene shareholders one BMS share and $US50 cash for each Celgene share they own. The deal combines a massive pharmaceutical company with a biotech giant, both of which […]
Bristol-Myers Squibb is buying Celgene in a $74 billion deal
Markets

Celgene is buying the cancer-drug maker Juno Therapeutics for $9 billion

Celgene is acquiring Juno Therapeutics, a company developing personalised cancer treatments, in a deal worth $US9 billion. It’s the second deal in 2018 for the biotech giant, which has been under pressure from investors. The highly personalised treatments Juno makes, called CAR T-cell therapy, are at the beginning of an […]
Celgene is buying the cancer-drug maker Juno Therapeutics for $9 billion
Markets

Celgene is reportedly in talks to buy a $5.5 billion cancer drugmaker

Celgene is in talks to acquire Juno Therapeutics,The Wall Street Journal reported on Tuesday. If the deal materialises, it’d be the second in 2018 for the biotech giant, which has been under pressure from investors. Juno is known for its experimental treatments that harness the body’s immune system to treat […]
Celgene is reportedly in talks to buy a $5.5 billion cancer drugmaker