Celgene’s Inrebic becomes the first treatment for myelofibrosis to be approved by the US FDA since 2011 after having received a priority review and orphan drug designation.
The share price of BMS sank by over 7% after it stated that it would need to divest Celgene’s Otezla, a blockbuster treatment for psoriasis and psoriatic arthritis.
The $74bn deal appeared to be fraying around edges, as certain shareholders voiced dissent, but a vote saw the deal pass with support from more than 75% of investors.
Celgene, Triphase Accelerator, and Facit entered a collaboration for a first-in-class preclinical therapeutic, targeting the WDR5 protein for the treatment of leukemia and other blood cancers.
CRO stock prices fell initially following the news that Bristol-Myers Squibb was acquiring Celgene in a deal valued at $74bn. However, is 2019’s first mega-merger really a threat to service providers?