BRISTOL Myers-Squibb has announced a US$74 billion merger agreement with Celgene Corproation, with the company saying the transaction would create a "leading focused specialty biopharma company well positioned to address the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease through high-value innovative medicines and leading scientific capabilities".
The combined company will have nine products with over US$1 billion in annual sales as well as near-term launch opportunities representing over US$15 billion in revenue potential.
Key medications include Opdivo, Yervoy, Revlimid, Pomalyst, Orencia, Otezla and Eliquis.
If approved by shareholders of both companies and regulators, the companies expect the transaction to be completed in the third quarter of 2019.
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