With Celgene Acquisition Closed, Bristol Faces Major Milestones
Bristol bought Celgene following multiple pipeline setbacks, but the biotech giant made positive progress recently that the big pharma will be expected to continue.
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Paying $13.1bn for MyoKardia and its potential first-in-class HCM drug, BMS sees a blockbuster sales opportunity that it will grow gradually. MyoKardia team will be absorbed into BMS, Caforio says.
Chief medical officer Samit Hirawat outlines R&D successes – though there have been some setbacks since it bought Celgene for $74bn last year – and the company’s commitment to clinical trial diversity.
The new collaboration announced 17 August is worth up to $475m in near-term upfront payments plus undisclosed milestone fees and royalties up to 24%.