Bristol-Myers Squibb has started off the 2019 season of M&A with a huge proposal: buying the biotech Celgene in a $74B deal. If completed, it would be the largest pharma acquisition to date, blowing the previous-record holder—Takeda’s pending Shire acquisition for $62B—out of the water. Both companies are oncology giants, specifically in immunology and blood cancers, but BMS will be acquiring a decent amount of risk with the purchase. Celgene’s market cap has gone down $70B in the past 14 months partly due to poor financial forecasts for when the company’s top drug Revlimid loses patent protection. BMS likely hopes to make that up with six possible product launches in the next few years. Okay, enough numbers. To round out this New Jersey-focused blurb, here’s some New Jersey would-you-rathers.
Japan and Ireland have a history of mutual investment and medicine exchange, and an upcoming merger could be the latest and greatest chapter. Osaka-based Takeda announced in May that it would acquire the Dublin-based Shire for $62B, and it looks like its last regulatory hurdle with the EU will be cleared. Unlike these hurdles. Officials are slightly concerned about an IND in Shire’s pipeline that could treat Crohn’s Disease, which would overlap with Takeda’s biggest selling drug Entyvio. But Takeda’s happy to lose that investigational drug if it means closing the deal. After all, the new company would instantly become a global top 10 drugmaker. Keep your head on a swivel though, a few Takeda investors are still against the deal, citing the considerable debt Takeda will have to take on to make the purchase.
In Jennifer Aniston’s new role there’s sure to be no dry eye left in the house. At least that’s Shire’s goal. After expressing an addiction to eye drops in a recent interview, Jennifer Aniston was contacted by the folks at Shire to be the face and eyes of their new “eyelove” campaign. Creepy name? We agree. This campaign parallels the launch of a new product, Xiidra, a treatment for dry eye syndrome, and is intended to encourage the public to pay more attention to eye health. Let’s hope there’s more spark in this relationship than the one between her and John Mayer. Apologies. We don’t feel any better about this story than you do.