Bristol-Myers bulks up with $74 billion deal to buy Celgene

Bristol-Myers bulks up with $74 billion deal to buy Celgene
Bristol-Myers bulks up with $74 billion deal to buy Celgene

Bristol-Myers Squibb Co (BMY.N) said on Thursday it would buy Celgene Corp (CELG.O) for about $74 billion, creating one of the biggest pharmaceutical companies and combining two significant cancer drug businesses.

Yet the deal comes as both Bristol-Myers and Celgene face separate challenges, and some Wall Street analysts questioned if the combination – which the companies said would create $2.5 billion in cost savings and raise earnings – would solve them.

Source: News Agencies