With its announcement on Thursday that it will acquire biotech bellwether Celgene, Bristol-Myers Squibb has placed a very big bet: that it is worth $74 billion to combine its cancer drugs with Celgene’s.

“We’ve taken our strategic foundation to be the best of biotech and the best of pharma as a company,” Bristol Chairman and Chief Executive Giovanni Caforio told me.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!


What is it?

STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • Online intelligence briefings
  • Frequent opportunities to engage with veteran beat reporters and industry experts
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
  • “When one looks broadly at cancer immunotherapy, there are four big areas, he argued: drugs like Opdivo and Keytruda; medicines like Bristol’s Yervoy; medicines that make use of a protein called IL-2, such as one Bristol licensed from Nektar; and cell therapies such as the ones it just acquired in its Celgene buy.”

    That strikes me as an exceedingly arbitrary categorization of IO therapies – salesmanship around the combined BMY / CELG asset base reinforces the notion that this deal is the result of a push for growth at any cost.

Comments are closed.

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy