Bristol-Myers Squibb (BMY)

Index:

S&P 100

$ 55.77
   
  • Change Today:
    $3.11
  • 52 Week High: $56.20
  • 52 Week Low: $39.66
  • Currency: US Dollars
  • Shares Issued: 1,998.00m
  • Volume: 18,742,880
  • Market Cap: $111,428m
  • RiskGrade: 106

Bristol Myers acquires Celgene in $74bn pharma deal

By Iain Gilbert

Date: Thursday 03 Jan 2019

LONDON (ShareCast) - (Sharecast News) - US drugmaker Bristol-Myers Squibb reached a deal to acquire biotech group Celgene on Thursday in one of the largest acquisitions ever in the history of the pharmaceuticals industry.
The $102.43 per share price tag will see Celgene valued at $74bn, for a 51% premium to the group's 30-day volume weighted average.

Under the terms of the agreement, Celgene shareholders will be entitled to receive $50 cash and one Bristol-Myers Squibb share, valued at $52.43 at the end of trading on Wednesday.

Celgene investors will also receive rights to shares, set to pay out in the future if both companies are able to pass certain regulatory milestones.

Both firms have strong-selling cancer drugs but have also faced much scepticism regarding their growth prospects, as reflected in a 15% decline in Bristol-Myers's shares in 2018, while Celgene lost more than 41%.

However, as a result of the acquisition Bristol will get control of one of the most successful cancer drugs on the market, the blood-cancer therapy Revlimid, which costs more than $100,000 a year, and will also gain access to a promising experimental CAR-T therapy being developed by Juno Therapeutics, which Celgene itself acquired after a $9bn takeover deal in 2018.

As of 1310 GMT, Bristol-Myers shares had lost 14.08% in pre-market trading to trade at $45.05 each, while Celgene shares were soaring 33.18% to $88.75.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BMY Market Data

Currency US Dollars
Share Price $ 55.77
Change Today $ 3.11
% Change 5.91 %
52 Week High $56.20
52 Week Low $39.66
Volume 18,742,880
Shares Issued 1,998.00m
Market Cap $111,428m
RiskGrade 106

What The Brokers Say

Strong Buy 3
Buy 3
Neutral 18
Sell 1
Strong Sell 0
Total 25
neutral
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Trades for 31-Oct-2024

Time Volume / Share Price
15:59 100 @ $55.76
15:59 1,200 @ $55.75
15:59 1,100 @ $55.75
15:59 184 @ $55.75
15:59 271 @ $55.77

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