Your thoughts on no deal prior to tax reform and tax holiday make sense but rumors of a buyout have been circulating since Febuary. Those models would have had to be done on current tax law. Of course they could then run models on various scenarios with different corporate tax rates. But what is bankable is what we have today.
PFE, Roche and GILD are the big names thrown about, but going back to the Febuary articles it was primarily PFE. GILD is useless, they do nothing but print money and buyback shares. GILD is in the best cash position for a mega merger but I think they are all talk and may not have the experience of integrating all the synergies and administration of a mega merge.
PFE and Roche do have that experience. PFE has lost on 2 mega mergers and is due for one. While the 2 misses largely centered around tax inversion they are due.
The negatives is a drag of no real big deals in the last 18 months, even the Medivation buy was peanuts to PFE and should be noted centered around oncology. PFE portfolio is over 50% oncology now and now that cancer drugs are becoming customized the potential is enormous.
A quick reading of the PFE CEO's comments during analysts Q&A supports your opinion that no big deals until tax reform. Reading very closely though my takeaway is targets have been identified and when the time is right swift action will be taken.
So, my take is that if they are going to d a deal it will be before tax reform. Tax reform will make any US based company value rise. So it doesn't matter what the target company is, if a Company has balls the time to make a deal is before tax reform and when a stock price is lagging.
This assumes the model of buying BMY works, because if it doesn't work taxes do not matter. But from everything I have read BMY seems to be an excellent opportunity. Biogen to.
The negatives to mega deal is not tax reform in my opinion, it will be the synergies are great enough, interest rate hikes and BMY cooperating. BMY CEO just became Chairman also but a friend of mine who put multi billion dollar deals together says if the price is right they will sell.
Recent BMY News
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- Bristol Myers Squibb Presents New Pooled Interim Long-Term Safety and Metabolic Outcomes Data from the EMERGENT Program Evaluating KarXT in Schizophrenia at the 2024 Annual Congress of the Schizophrenia International Research Society • Business Wire • 04/06/2024 05:15:00 PM
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- Bristol Myers Squibb Releases 2023 Environmental, Social and Governance Report Demonstrating Progress and Setting New Long-Term Goals • Business Wire • 04/02/2024 10:59:00 AM
- Bristol Myers Squibb Announces Pivotal KRYSTAL-12 Confirmatory Trial Evaluating KRAZATI (adagrasib) Meets Primary Endpoint of Progression-Free Survival for Patients with Pretreated KRASG12C-Mutated Locally Advanced or Metastatic Non-Small Cell Lung… • Business Wire • 03/28/2024 08:05:00 PM
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- FDA Advisory Committee Votes in Favor of Bristol Myers Squibb’s and 2seventy bio’s Abecma for Triple-Class Exposed Multiple Myeloma in Earlier Lines of Therapy • Business Wire • 03/15/2024 10:27:00 PM
- U.S. FDA Approves Bristol Myers Squibb’s Breyanzi® as the First and Only CAR T Cell Therapy for Adults with Relapsed or Refractory Chronic Lymphocytic Leukemia (CLL) or Small Lymphocytic Lymphoma (SLL) • Business Wire • 03/15/2024 01:35:00 AM
- Bristol Myers Squibb to Report Results for First Quarter 2024 on April 25, 2024 • Business Wire • 03/11/2024 08:16:00 PM
- U.S. Food and Drug Administration Approves Opdivo® (nivolumab), in Combination with Cisplatin and Gemcitabine, for First-Line Treatment of Adult Patients with Unresectable or Metastatic Urothelial Carcinoma • Business Wire • 03/07/2024 07:23:00 PM
- Bristol Myers Squibb to Participate in Upcoming Investor Conferences • Business Wire • 03/06/2024 09:17:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 10:57:57 PM
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