Bristol-Myers Squibb is buying Celgene in a cash-and-stock deal valued at about USD 74 billion.
Shareholders of Celgene Corp, based in Summit, New Jersey, will receive one share of the cancer drug maker, plus USD 50 in cash for each share they own.
They’ll also receive one tradeable contingent value right for each Celgene share, allowing the holder to receive a payment when future regulatory milestones are hit.
The combined company will have nine products with more than USD 1 billion in annual sales and significant potential for growth in the core disease areas of oncology, immunology and inflammation and cardiovascular disease.
Shareholders of Bristol-Myers Squibb Co, based in New York City, would own about 69 per cent of the company, with Celgene shareholders owning about 31 per cent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.