Bristol Values Celgene's Hematology, Immunology Portfolio At $74bn, But Does It Price In Risk?
Executive Summary
Bristol's surprising purchase diversifies its portfolio beyond Opdivo, while stopping Celgene's ongoing stock price declines after several setbacks. While Bristol execs downplayed the mid-term risk of generics for Celgene's blockbuster Revlimid, they highlighted near- and long-term growth drivers.
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