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Archive - Jan 6, 2019

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Bristol-Myers Squibb to Acquire Celgene for $74 Billion to Create a Premier Innovative Biopharma Company; Combined Company Will Have More Than $1 Billion in Annual Sales

On January 3, 2018, Bristol-Myers Squibb Company (NYSE:BMY) and Celgene Corporation (NASDAQ:CELG) announced that they have entered into a definitive merger agreement under which Bristol-Myers Squibb will acquire Celgene in a cash and stock transaction with an equity value of approximately $74 billion. Under terms of the agreement, Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and $50.00 in cash for each share of Celgene. Celgene shareholders will also receive one tradeable Contingent Value Right (CVR) for each share of Celgene, which will entitle the holder to receive a payment for the achievement of future regulatory milestones. The Boards of Directors of both companies have approved the combination. The transaction will 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. With complementary areas of focus, the combined company will operate with global reach and scale, maintaining the speed and agility that is core to each company’s strategic approach. Based on the closing price of Bristol-Myers Squibb stock of $52.43 on January 2, 2019, the cash and stock consideration to be received by Celgene shareholders at closing is valued at $102.43 per Celgene share and one CVR (as described below). When completed, Bristol-Myers Squibb shareholders are expected to own approximately 69 percent of the company, and Celgene shareholders are expected to own approximately 31 percent.

PMWC 2019 Silicon Valley Has Grown to World's Largest Precision Medicine Conference – Jan 20-23 in Santa Clara Convention Center

PMWC (Precision Medicine World Conference), the preeminent precision medicine global gathering that attracts recognized leaders, top international researchers and medical professionals, and innovators across the healthcare and biotechnology sectors, announced, on January 3, 2019, that PMWC 2019 Silicon Valley has grown to be the largest precision medicine conference, which, for the first time, will be held at the Santa Clara Convention Center in California January 20-23. Thousands of healthcare leaders, representing a variety of companies, technologies, research teams, and medical centers, with leadership roles in precision medicine are expected to attend. Over 400 speakers will be featured in more than 60 sessions. The conference will touch upon relevant topics such as how big data sciences and artificial intelligence (AI) applications advance precision medicine; how new emerging technologies drive genomics and medical practices; how patient data has become so valuable and how it impacts regulatory policy; how continuous advancements in immunotherapy are changing the way cancer is treated; and how thriving genome initiatives such as Genomic England are improving health care. The conference will recognize individuals who play a significant role in transforming today’s health care by advancing precision medicine into the clinic. This year's distinguished group of awardees includes Dr. Feng Zhang, Professor of Neuroscience at the Broad Institute (Harvard/MIT), who made vital contributions to the development of optogenetics and CRISPR technologies, and Dr. Carl June, Professor of Immunotherapy at the University of Pennsylvania, who was a crucial contributor to the development of the revolutionary CAR-T immunotherapy for cancer.