Bristol-Myers Squibb Buying Celgene for $74b

Bristol-Myers Squibb Company, a $20.8b global biopharma company is buying Celgene Corporation, a $13b developer of therapies for cancer and inflammatory diseases. The Deal strengthens Bristol-Myers in oncology, cardiovascular disease, immunology and inflammation. Celgene is known for its blockbuster Thalomid and Revlimid cancer drugs. The combined company will have nine products with more than $1b in annual sales. In addition to the approved products, the merged pipelines will have six expected near-term product launches, including two in immunology and inflammation and four in hematology. These six products represent more than $15b in potential revenue. In 2018, Celgene’bought Juno Therapeutics for $9b and acquired Impact Biomedicines for $7 billion. Deal Value - $74b, on sales of $13b (5.6x), and EBITDA of $5.48b (13.5x).

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare mergers