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Drugmaker Bristol-Myers to buy Celgene for $74 billion

Reuters 

(Reuters) - Bristol-Myers Squibb Co said on Thursday it would buy Celgene Corp for about $74 billion in a cash-and-stock deal, creating a powerhouse that will have several blockbuster cancer drugs.The combined company will have nine products with more than $1 billion in annual sales and significant potential for growth in oncology, immunology and inflammation and cardiovascular disease. Celgene shareholders will receive one Bristol-Myers Squibb share and $50 in cash for each share held, or $102.43 per share, a premium of 53.7 percent to Celgene's Wednesday close. Celgene shareholders will ...

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First Published: Thu, January 03 2019. 17:58 IST
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