Monday, January 7, 2019 Daily Archives

UK must avoid no-deal Brexit, says British pharma group

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Crashing out of the European Union without a deal will be catastrophic, says the head of the Association of British Pharmaceutical Industry (ABPI) Mike Thompson.  However, the pharmaceutical industry is stockpiling medicines in preparation, he confirmed. As the UK braces itself for an unprecedented and potentially calamitous exit from the European Union (EU) on March 29th, firms including Pfizer, Merck & Co, and Sanofi, as well as UK-headquartered GlaxoSmithKline and AstraZeneca, have reportedly been stockpiling medicines. This was confirmed today by…

January 7, 2019

BMS $74bn Celgene deal to create ‘number one oncology franchise’

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The acquisition of Celgene will boost Bristol-Myers Squibb’s commercial portfolio and clinical pipeline and create synergies of $2.5 billion, the firm says. The new year has started with an M&A bang, with pharma giant Bristol-Myers Squibb (BMS) announcing its intentions to acquire its immune-oncology partner Celgene in a deal valued at $74 billion (€65 billion). According to Giovanni Caforio, CEO of Bristol-Myers Squibb, four value areas drove the merger. The first is creating leading franchises in oncology, immunology and inflammation…

January 7, 2019