Analysts and investors have both expressed concerns over Bristol-Myers Squibb’s $ 74 billion Celgene deal agreement. And an activist may be joining that list. Known agitator Starboard Value has taken a stake in the New Jersey drugmaker, Bloomberg’s sources say, though the size of that stake and the hedge fund’s plans are still unclear. A… Read More »
(Reuters) – Celgene Corp, which is being bought by Bristol-Myers Squibb Co, reported a better-than-expected fourth-quarter profit on Thursday, driven mainly by higher sales of psoriasis drug Otezla. Bristol-Myers agreed to buy Celgene for about $ 74 billion earlier this month, a deal that will expand its pipeline of cancer drugs as the company goes… Read More »
It’s not only Celgene investors who are set for a big payoff with this week’s $ 74 billion sale to Bristol-Myers Squibb. Thanks to brand-new severance agreements inked days ahead of the deal announcement, its top executives could reap hefty gains, too. Under change-in-control severance arrangements that took effect Dec. 17, top Celgene managers would… Read More »