Bristol/Celgene A Record-Setting Merger, If It Happens
The mega-merger would be the third largest in biopharma history, but some analysts wonder if other suitors will try to acquire Bristol before the deal closes. Celgene’s partners, and their investors, are concerned about the ramifications.
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Stock market reaction to the first day’s news from the 38th J.P. Morgan Healthcare conference in San Francisco was negative, probably because expectations for a continuation of December’s bumper M&A bonanza were too high.
With no more activist investor challenge, shareholders of both companies overwhelmingly approved the deal. Bristol said it will have leading positions in oncology and cardiovascular disease, and gain five potential blockbusters in the Celgene buyout.
BioMarin’s focus on rare diseases and gene therapies and expected financial growth make it a logical acquisition target for almost any large pharma, though Biogen, Amgen and Regeneron also offer a beneficial fit for many.