Hello, everyone, and how are you today? We are doing just fine, thank you, courtesy of a warm and shiny sun enveloping the Pharmalot campus. The short people have left for their destinations — the local schoolhouse and gainful employment, respectively — and the official mascot is snoozing in his corner. As for us, we are already quite busy firing up the coffee kettle and foraging for interesting items. Speaking of which, here are a few tidbits to get you going this morning. Hope your day burns brightly and, as always, do stay in touch …
Bristol-Myers Squibb (BMY) and Starboard Value issued dueling presentations over the merits of the $74 billion bid the drug maker has made for Celgene (CELG). Bristol-Myers maintained that the deal would give the combined companies number-one positions in oncology and cardiovascular drug sales, while Starboard argued that Celgene is facing a “massive patent cliff” that will force it to replace about 60 percent of its revenues over the next seven years (here is the Bristol presentation and here is the Starboard presentation). Bristol shareholders vote on April 12.
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