Biotech Company News

Bristol-Myers Squibb to Acquire Celgene

Bristol-Myers bulks up cancer portfolio with $74 billion Celgene deal (Reuters) - Bristol-Myers Squibb Co (BMY.N) said on Thursday it would buy Celgene Corp (CELG.O) for about $74 billion, creating a major pharma company with several blockbuster cancer drugs as competition in the immunotherapy space heats up. Bristol-Myers pioneered immunotherapy with its Yervoy and later Opdivo, but has come under pressure as Merck & Co’s (MRK.N) rival treatment Keytruda moved
Pharmaceutical Business News

Bristol-Myers Squibb Drug Fails Lung-Cancer Study

A blockbuster cancer treatment failed in a key study as the drug's maker, Bristol-Myers Squibb, attempts to extend its usage for lung cancer patients. Shares of the New York company plunged 16 percent Friday, its biggest one-day drop in 14 years. Shares of rival Merck & Co., which makes a rival cancer drug, spiked 10 percent to reach an 18-year high. Bristol's drug, Opdivo, and Merck's drug Keytruda are immunotherapies,