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CELG, BMY > UPDATED: Bristol-Myers inks a $74B deal to buy out Celgene, expects $15B a year from late-stage pipeline

https://endpts.com/bristol-myers-inks-a-74b-deal-to-buy-out-celgene-expects-15b-a-year-from-late-stage-pipeline/

Bristol-Myers is counting on about $15 billion in near-term annual revenue from Celgene’s late-stage pipeline, turning to the drugs that Celgene has been buying up or partnering with companies like bluebird bio. That includes:

Two in immunology and inflammation, TYK2 and ozanimod; and
Four in hematology, luspatercept, liso-cel (JCAR017), bb2121 and fedratinib.

The CVR, worth up to $9 each, is based on FDA approval of all three of these drugs: “ozanimod (by December 31, 2020), liso-cel (JCAR017) (by December 31, 2020) and bb2121 (by March 31, 2021).”

The acquisition marks the combination of two of the world’s top-10 R&D operations. Celgene — which spent $6 billion on R&D in 2017 — built the company on Revlimid sales, and invested billions of that revenue in building its pipeline with a long string of deals.