Today, Celgene and Bristol-Myers Squibb stockholders voted to approve the combination of our two companies announced on January 3, 2019. The companies continue to expect to close the transaction in the third quarter of 2019, subject to customary closing conditions and regulatory approvals. You can read our press release here.
“Today’s stockholder vote represent a strong expression of confidence in the strategic merit of this combination and are a significant milestone towards close,” said Mark Alles, Celgene’s Chief Executive Officer. “Together, our two companies will have a greater impact on the patients who rely on our therapies, as well as create opportunities for our people and value for our stockholders over the long-term. We will have leading franchises and a deep and broad pipeline that will position the combined company to drive sustainable growth and deliver new options for patients with cancer, inflammatory and immunologic disease and cardiovascular disease.”
As we highlighted when the combination was first announced, the combined company will have a broad portfolio of leading in-line products, and an expanded pipeline of early stage programs and near-term product launches to build a sustainable platform for future growth.
We will have nine marketed products with more than $1 billion in annual sales, enabling us to create:
- Leading oncology franchises in both solid tumors and hematologic malignancies led by OPDIVO and YERVOY as well as REVLIMID and POMALYST;
- A top five immunology/inflammation franchise led by ORENCIA and OTEZLA; and
- The #1 cardiovascular franchise led by ELIQUIS.
In addition to six expected near-term product launches (representing greater than $15 billion in revenue potential), the combined company will have a deep and diverse early and mid-stage pipeline across solid tumors and hematologic malignancies, immunology and inflammation, cardiovascular disease and fibrotic disease leveraging combined strengths in innovation.
The early-stage pipeline includes 50 high-potential programs, many with important data readouts in the near-term.
Together, we’ll also further our cutting-edge technologies and discovery platforms to sustain innovation leadership over time, including through the expansion of our capabilities in small molecule design, biologics/synthetic biologics, protein degradation, antibody engineering and cell therapy.
Consistent with Celgene’s long history of cultivating partnerships to benefit patients worldwide, the combined company will also have strong external partnerships with access to additional scientific platforms.
“Celgene has always been committed to changing the course of human health through bold pursuits in science with a promise to always put patients first,” Alles concluded. “We have accomplished so much already, and I look forward to the opportunities ahead as we join Bristol-Myers Squibb and further advance our mission for patients.”