Bristol-Meyers Announces $74B Merger With Celgene In Deal Primed To Have Sweeping Implications For Drug Industry

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In the first major pharmaceutical deal of 2019, Bristol-Myers Squibb says it will buy Celgene, a maker of cancer-fighting drugs, in a merger valued at $74 billion. According to Stat, Bristol-Myers has been under pressure to set a new course since August 2016, when a big study of its cancer immunotherapy, Opdivo, failed to show a benefit in previously untreated patients with non-small cell lung cancer. Analysts look at what the deal means to the industry at large.