BEIJING, Jan. 4 (Xinhua) -- Bristol-Myers Squibb Company (BMY.NYSE) and Celgene Corporation (CELG.NASDAQ) late Thursday (Beijing Time) announced that the two biopharmaceutical companies have entered into a definitive merger agreement under which Bristol-Myers Squibb will acquire Celgene in a cash and stock transaction with an equity value of approximately 74 billion U.S. dollars.
Under the terms of the agreement, Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and 50 dollars in cash, as well as one tradable Contingent Value Right (CVR)for each share of Celgene. The Boards of Directors of both companies have approved the combination.
The new company will have nine products with more than one billion U.S. dollars in annual sales and significant potential for growth in the core disease areas of oncology, immunology and inflammation and cardiovascular disease.
According to public information, Bristol-Myers Squibb is a global biopharmaceutical company in discovery, development and delivery of innovative medicines that help patients prevail over serious diseases. While Celgene Corporation is an integrated global biopharmaceutical company engaged primarily in the development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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