Is Bristol’s Long-Term Revenue Growth A Potential Salve For Celgene Shareholders?
CEO Caforio used the J.P. Morgan stage to try to assuage Celgene investors who recently lost out on a $9 CVR under the buyout, playing up the long-term promise of the combined company.
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Another victim of the COVID-pandemic, Celgene's $9-per-share contingent value right tied to BMS obtaining approval of three drugs goes unrealized due to FDA travel restrictions slowing down site inspections. Clene goes public, United Therapeutics buys PRV from Y-mAbs.
Recent launches and products acquired with Celgene are helping BMS grow, CEO Caforio said, while Opdivo is moving toward resuming growth thanks to first-line NSCLC and other factors.
Bristol Myers Squibb reported detailed results from the Phase III TRUE NORTH study that show durable remissions in a patient population that switches therapies due to loss of response.