Bristol-Myers Squibb and Celgene
are Combining to Create a Global Biopharma Leader

Bristol-Myers Squibb Company (NYSE:BMY) and Celgene Corporation (NASDAQ:CELG) have entered into a definitive agreement under which Bristol-Myers Squibb will acquire Celgene in a cash and stock transaction to create a leading focused specialty biopharma company well positioned to address the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease through high-value innovative medicines and leading scientific capabilities. As a combined company, we will:

  • Build an even stronger commercial presence in our key disease franchises, led by high performing commercial teams;
  • Launch exciting new medicines for patients, including six expected near-term opportunities;
  • Advance a significantly enhanced early-stage pipeline; and
  • Integrate a broad range of discovery modalities that will further strengthen our pipeline.

With more than $45 billion* of expected free cash flow generation over the first three full years post-closing, the Company is committed to maintaining strong investment grade credit ratings while continuing its dividend policy for the benefit of Bristol-Myers Squibb and Celgene shareholders. Bristol-Myers Squibb will also have significant financial flexibility to realize the full potential of the enhanced late- and early-stage pipeline.

* Does not include expected proceeds and free cash flow impact from Otezla divestiture.

Giovanni Caforio, M.D.
CHAIRMAN & CEO, BRISTOL-MYERS SQUIBB

“Together with Celgene, we are creating an innovative biopharma leader, with leading franchises and a deep and broad pipeline that will drive sustainable growth and deliver new options for patients across a range of serious diseases. As a combined entity, we will enhance our leadership positions across our portfolio, including in cancer and immunology and inflammation. We will also benefit from an expanded early- and late-stage pipeline that includes six expected near-term product launches. Our new company will continue the strong patient focus that is core to both companies’ missions, creating a shared organization with a goal of discovering, developing and delivering innovative medicines for patients with serious diseases. We are confident we will drive value for shareholders and create opportunities for employees.”

Mark J. Alles
CHAIRMAN & CEO, CELGENE

“For more than 30 years, Celgene’s commitment to leading innovation has allowed us to deliver life-changing treatments to patients in areas of high unmet need. Combining with Bristol-Myers Squibb, we are delivering immediate and substantial value to Celgene shareholders and providing them meaningful participation in the long-term growth opportunities created by the combined company. Our employees should be incredibly proud of what we have accomplished together and excited for the opportunities ahead of us as we join with Bristol-Myers Squibb, where we can further advance our mission for patients. We look forward to working with the Bristol-Myers Squibb team as we bring our two companies together.”