Bristol-Myers Squibb: buys Celgene for 74 billion dollars
(CercleFinance.com) - US drugmaker Bristol-Myers Squibb said on Thursday that it will buy biotech company Celgene in a cash and stock transaction worth approximately 74 billion dollars.
Under the terms of the agreement, Celgene shareholders will receive one Bristol-Myers share and 50 dollars in cash for each share they own, meaning a total price of 102.4 dollars per share.
In comparison, Celgene shares closed at 66.6 dollars last night.
The deal aims to create a specialty biopharma company focusing on cancer, inflammatory, immunologic and cardiovascular diseases, the companies said in joint statement after both boards approved the deal.
New Jersey-based Celgene develops therapies for the treatment of cancer and inflammatory diseases through next-generation compounds in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
Bristol-Myers Squibb shares were trading down 15% on this news in pre-market trading, while Celgene was up about 32%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Under the terms of the agreement, Celgene shareholders will receive one Bristol-Myers share and 50 dollars in cash for each share they own, meaning a total price of 102.4 dollars per share.
In comparison, Celgene shares closed at 66.6 dollars last night.
The deal aims to create a specialty biopharma company focusing on cancer, inflammatory, immunologic and cardiovascular diseases, the companies said in joint statement after both boards approved the deal.
New Jersey-based Celgene develops therapies for the treatment of cancer and inflammatory diseases through next-generation compounds in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
Bristol-Myers Squibb shares were trading down 15% on this news in pre-market trading, while Celgene was up about 32%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.