BMS and Celgene merge to create premier innovative biopharma company

3 Jan 2019

Significantly expands Phase III assets with six expected near-term product launches, representing greater than $15 billion in revenue potential.

Bristol-Myers Squibb (BMS) and Celgene have entered into a definitive merger agreement under which BMS will acquire Celgene in a cash and stock transaction with an equity value of approximately $74 billion.

BMS and Celgene merge to create premier innovative biopharma company

The transaction will create a leading focused specialty biopharma company well positioned to address the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease through high-value innovative medicines and leading scientific capabilities. With complementary areas of focus, the combined company will operate with global reach and scale, maintaining the speed and agility that is core to each company’s strategic approach.

“Together with Celgene, we are creating an innovative biopharma leader, with leading franchises and a deep and broad pipeline that will drive sustainable growth and deliver new options for patients across a range of serious diseases,” said Giovanni Caforio, Chairman and CEO of BMS. “As a combined entity, we will enhance our leadership positions across our portfolio, including in cancer and immunology and inflammation. We will also benefit from an expanded early- and late-stage pipeline that includes six expected near-term product launches. Together, our pipeline holds significant promise for patients, allowing us to accelerate new options through a broader range of cutting-edge technologies and discovery platforms.”

Dr Caforio continued: “We are impressed by what Celgene has accomplished for patients, and we look forward to welcoming Celgene employees to BMS. Our new company will continue the strong patient focus that is core to both companies’ missions, creating a shared organization with a goal of discovering, developing and delivering innovative medicines for patients with serious diseases. We are confident we will drive value for shareholders and create opportunities for employees.”

“For more than 30 years, Celgene’s commitment to leading innovation has allowed us to deliver life-changing treatments to patients in areas of high unmet need. Combining with BMS, we are delivering immediate and substantial value to Celgene shareholders and providing them meaningful participation in the long-term growth opportunities created by the combined company,” said Mark Alles, Chairman and CEO of Celgene. “Our employees should be incredibly proud of what we have accomplished together and excited for the opportunities ahead of us as we join with BMS, where we can further advance our mission for patients. We look forward to working with the BMS team as we bring our two companies together.”

Strategic benefits

  • Leading franchises with complementary product portfolios provide enhanced scale and balance. The combination creates:
    • Leading oncology franchises in both solid tumors and hematologic malignancies led by Opdivo and Yervoy as well as Revlimid and Pomalyst
    • A top five immunology and inflammation franchise led by Orencia and Otezla
    • The #1 cardiovascular franchise led by Eliquis.
    • The combined company will have nine products with more than $1 billion in annual sales and significant potential for growth in the core disease areas of oncology, immunology and inflammation and cardiovascular disease.

  • Near-term launch opportunities representing greater than $15 billion in revenue potential. The combined company will have six expected near-term product launches:
    • Two in immunology and inflammation, TYK2 and ozanimod
    • Four in hematology, luspatercept, liso-cel (JCAR017), bb2121 and fedratinib.
    • These launches leverage the combined commercial capabilities of the two companies and will broaden and enhance Bristol-Myers Squibb’s market position with innovative and differentiated products. This is in addition to a significant number of lifecycle management registrational readouts expected in Immuno-Oncology (IO).

  • Early-stage pipeline builds sustainable platform for growth. The combined company will have a deep and diverse early-stage pipeline across solid tumors and hematologic malignancies, immunology and inflammation, cardiovascular disease and fibrotic disease leveraging combined strengths in innovation. The early-stage pipeline includes 50 high potential assets, many with important data readouts in the near-term. With a significantly enhanced early-stage pipeline, BMS will be well positioned for long-term growth and significant value creation.
  • Powerful combined discovery capabilities with world-class expertise in a broad range of modalities. Together, the Company will have expanded innovation capabilities in small molecule design, biologics/synthetic biologics, protein homeostasis, antibody engineering and cell therapy. Furthermore, strong external partnerships provide access to additional modalities.
  • Read More

    Related news

    Lessons learned from early EU FMD adopters

    Lessons learned from early EU FMD adopters

    13 May 2019

    Data exchange, investment costs, resources and hardware identified as some of the biggest challenges.

    Read more 
    Brexit's trick or treat on patient safety

    Brexit's trick or treat on patient safety

    29 Apr 2019

    Despite a delayed Brexit, unpredictability adds further complications to the EU FMD regulation.

    Read more 
    Surge of Indian biosimilars market forecast in 2019

    Surge of Indian biosimilars market forecast in 2019

    22 Apr 2019

    India predicted to be one of the world’s ‘fastest growing bio’ hubs in 2019, fuelled by new biosimilars production.

    Read more 
    RAPS on delayed Brexit

    RAPS on delayed Brexit

    26 Mar 2019

    The post-Brexit regulatory environment continues to weigh heavily on the minds of regulatory professionals.

    Read more 
    Sizeable growth potential for global drug delivery and packaging in 2019

    Sizeable growth potential for global drug delivery and packaging in 2019

    19 Mar 2019

    Patient-centricity, eco-friendly and smart packaging trends marked as the biggest growth drivers and innovations in 2019.

    Read more 
    'Tamper-evident' benefits are evident

    'Tamper-evident' benefits are evident

    28 Feb 2019

    2019 will mark Uniplast's debut at this year's edition of CPhI Worlwide in Frankfurt, where it will showcase its expertise in plastic packaging.

    Read more 
    All Recipharm facilities ready for EU serialisation, regardless of Brexit

    All Recipharm facilities ready for EU serialisation, regardless of Brexit

    15 Feb 2019

    The CDMO invested EUR 35 million into its operations and launched a 3-year programme to provide a compliant serialisation solution for its customers.

    Read more 
    Brexit - the EU FMD's painful problem

    Brexit - the EU FMD's painful problem

    7 Feb 2019

    Teething problems are no stranger to the implementation of new regulations, but with the EU FMD, Brexit came like a set of wisdom teeth – late, painful and problematic.

    Read more 
    Pharmapack report predicts diversification of innovation leading to a rise in licensing and partnering

    Pharmapack report predicts diversification of innovation leading to a rise in licensing and partnering

    27 Jan 2019

    New report highlights Germany, France and Switzerland as tier-one nations for ‘drug delivery innovation’, and warns the challenge will be to scale-up and approve promising prototypes.

    Read more 
    New API screening program strengthens Particle Sciences' nanomilling offering

    New API screening program strengthens Particle Sciences' nanomilling offering

    22 Jan 2019

    Advanced formulation techniques such as nanomilling may provide an excellent route to improved bioavailability and enhanced therapeutic effect.

    Read more