Bristol-Myers Squibb’s investors reacted negatively to the news of the deal APBristol-Myers Squibb will buy Celgene for $74 billion in the largest deal announced in the healthcare industry, creating a cancer and immunology specialist with several leading drugs. With Celgene’s net debt included, the value of the merger is $95 billion, which would rank as the largest healthcare acquisition on record without adjusting for inflation, research by Refinitiv suggests. Previously, the largest announced healthcare deal was Pfizer’s acquisition of Warner-Lambert for $88.8 billion, including debt, in 1999. The combined company would have nine products with annual sales of about $1 billion, a pipeline of medications worth about $15 billion and 50 treatments in the early stages of testing. Bristol-Myers Squibb, valued at $74 billion, makes treatments for cancer, diabetes and arthritis.

Source: The Times January 03, 2019 17:03 UTC