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    Bristol-Myers Squibb buying Celgene in Rs 7400 crores deal

    Farhat NasimWritten by Farhat Nasim Published On 2019-01-05T09:15:18+05:30  |  Updated On 5 Jan 2019 9:15 AM IST
    Bristol-Myers Squibb buying Celgene in Rs 7400 crores deal



    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.


    New Delhi: 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 tradable 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.

    Bristol-Myers Squibb Company (BMS) is an American pharmaceutical company, manufactures prescription pharmaceuticals and biologics in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders.

    Read Also: Bristol-Myers Squibb collaborates with Harvard for new fibrosis research



    Bristol-Myers SquibbCardiovascularCelgeneCelgene shareholdersImmunologyinflammationNew JerseyNew York Cityoncologypharma companypharma newspharmaceuticalpharmacyUSD
    Source : With input

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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