Biotech Values

[DewDiligence]

(BMY/BMY-R)—FDA approves Zeposia (ozanimod) for relapsing MS:

https://news.bms.com/press-release/corporatefinancial-news/us-food-and-drug-administration-approves-bristol-myers-squibbs

Zeposia is one of the three FDA approvals by a specified deadline required for BMY-R, the $9/sh CELG CVR, to pay out. The other two are: liso-cel/JCAR017 (PDUFA date 8/17/20) by 12/31/20 (PDUFA date: ; and bb2121 by 3/31/21. (Some people think BMY will deliberately try to slow these approvals to avert having to pay the CVR, but I highly doubt that BMY will want to subject itself to the inevitable litigation that would ensue if there were even a hint of sabotage.)

Yesterday was the ozanimod PDUFA date, so there was no delay to the NDA review time on account of COVID-19.