Nordic Life Science 1
BUSINESS GLOBAL REPORT BUSINESS DEAL T E X T by M
AL IN O T M ANI Giovanni Caforio, CEO, Bristol-Myers Squibb HE TRANSACTION WILL create a focused specialty biopharma company well positioned to address the needs of patients with cancer, inflammatory and immunologic disease, and cardiovascular disease, stated Bristol-Myers Squibb (BMS) in their press release. “Together with Celgene, we are creating an innovative biopharma leader, with leading franchises and a deep and broad pipeline that will drive sustainable growth and deliver new options for patients across a range of serious diseases,” says Giovanni Caforio, Chairman and Chief Executive Officer of BMS. “As a combined entity, we will enhance our leadership positions across our portfolio, including in cancer and immunology and inflammation. We will also benefit from an expanded earlyand late-stage pipeline that includes six expected near-term product launches. Together, our pipeline holds significant promise for patients, allowing us to accelerate new options through a broader range of cutting-edge technologies and discovery platforms.” The combined company will have nine products with more than $1 billion in annual sales and potential for growth in the core disease areas of oncology, immunology and inflammation and cardiovascular disease. In oncology the company will have a pipeline for solid and hematologic tumors, led by blockbusters Opdivo, Revlimid, Pomylyst and Yervoy. The cardiovascular pipeline will be led by Eliquis, and the immunology and inflammation franchise will be led by Orencia and Otezla. The merged pipelines will also have six expected nearterm product launches, including two in immunology and inflammation and four in hematology. These six products represent more than $15 billion in potential revenue, according to BMS. When the deal is completed, Giovanni Caforio will continue to serve as chairman and Chief Executive Officer of the combined companies. Two members from Celgene’s Board of Directors will be added to the Board of Directors of BMS. BMS also noted that it will aim to find at least $2.5 billion in cost reductions by 2022 as it works on the merger. HEN COMPLETED, BMS shareholders are expected to own approximately 69 percent of the company and Celgene shareholders are expected to own approximately 31 percent. NLS NORDICLIFESCIENCE.ORG 23