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BMS to Buy Celgene in Deal Worth $74 Billion, an Industrial Info Market Brief
Industry Segment: Pharmaceutical & Biotech | Word Count: 83 Words
Pharma-bio giants Bristol-Myers Squibb Company (NYSE:BMY) (BMS) and Celgene Corporation (NASDAQ:CELG) have announced that they have entered into a definitive merger agreement in which Bristol-Myers Squibb will acquire Celgene in a cash and stock transaction with an equity value of about $74 billion.
Benefits of the merger range from highly complementary portfolios, with leading franchises in oncology, immunology and inflammation and cardiovascular disease, to about $2.5 billion of expected run-rate cost synergies to be achieved by 2022, according to the companies.
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