Bristol Myers Squibb Company
NEWS
On Friday, March 8, Bristol-Myers Squibb executives met with sell-side analysts to sell its $74 billion Celgene buyout.
Bristol-Myers Squibb announced its bid to acquire Celgene on January 3, 2019. However, the deal hit a snag. Bristol-Myers Squibb is now fighting back, making efforts to sell the deal to its shareholders.
Bristol-Myers Squibb and Celgene Corporation are strongly urging shareholders to submit their proxy votes as quickly as possible whether they plan to attend the April 12, 2019 Special Meeting or not. The meeting is when the official vote on whether Bristol-Myers Squibb will buy Celgene will take place.
According to a recent BioSpace survey, 70% of life science employers indicated their company anticipates an increase in the number of open positions during 2019. So if you are on the job hunt, keep your eye out for new positions posted throughout the year!
Shares of Bristol-Myers Squibb took a hit Wednesday after two large stakeholders in the company objected to the pending acquisition of Celgene. Wellington and Starboard Value have both publicly voiced opposition to the deal.
Bristol-Myers Squibb and South San Francisco-based CytomX Therapeutics have been collaborating since 2014, a deal that was boosted in 2017 when Bristol-Myers Squibb added up to eight additional targets using CytomX’s Probody platform.
U.S. Senator Chuck Grassley (R-Iowa) set the tone early, mentioning his constituents rationing drugs because of high prices or “leaving their prescription on the pharmacy counter because it costs too much,” but acknowledging that innovations “take time and money.”
It’s nice to be admired. Fortune released its list of the most respected companies across the globe and one pharma company made the top 50 list.
Seven pharma executives will enter the Congressional crucible next week as they face questions and concerns over the rising costs of prescription drugs.
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