Bristol Values Celgene's Hematology, Immunology Portfolio At $74bn, But Does It Price In Risk?
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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After delaying the launch of the MS treatment due to the pandemic, Bristol now says the market is ready for a new launch. Immunology US business unit head Tina Deignan talked to Scrip about it.
Bristol Myers Squibb brought in $500m from customers that overbought in case of drug shortages, but first quarter sales still grew 8% excluding those purchases and BMS projects growth through 2021.
Zeposia, one of three Celgene candidates central to last year’s merger with BMS, obtains US FDA approval in relapsing MS. BMS, however, will delay the launch due to the COVID-19 pandemic.