Bristol-Myers Squibb Company / Celgene Corporation
2019 · Acquisition/Merger · $74.0B · Complete
Announcement Sentiment
75
Strongly positive
Outcome Score
77
Worked — the deal delivered on its rationale.
Bristol-Myers Squibb acquired Celgene for approximately $74 billion in a cash-and-stock deal, the largest pharmaceutical transaction of the decade. Celgene shareholders received 1.0 BMS share plus $50 in cash per share, plus one tradeable CVR worth up to $9. The combination created a leading biopharma company with nine billion-dollar products spanning oncology, hematology, immunology, and cardiovascular disease.
Did it work? Outcome assessment
BMS transformed into top-5 biopharma with $45B+ revenue and $2.5B synergies achieved early