Celgene/Bristol's Revlimid Patent Risk Incrementally Lower After PTAB Denies Alvogen IPR
Bristol-Myers Squibb pitches Celgene's pipeline as its most valuable asset, but investors remain fixated on the coming Revlimid patent cliff. A recent PTAB decision to deny an inter partes review incrementally decreased that risk.
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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.
While the proposed Bristol/Celgene merger nears an April vote, Celgene continues a recent spate of deal-making, paying $25m up front to Exscientia to discover small molecule candidates for cancer and autoimmune disease.
Alvogen is claiming the first European launch of a generic rival to Revlimid, rolling out the oncology drug in several central and eastern European markets. Meanwhile, IPR challenges to three Revlimid patents in the US have been denied.