Two US cancer drugmakers to merge in $74-billion deal
US-based Bristol-Myers Squibb has announced it will buy cancer drugmaker Celgene for around $74 billion in one of the biggest-ever mergers in the pharmaceutical industry. The merged company would have 9 products with over $1 billion in annual sales each. Bristol-Myers Squibb shareholders will own approximately 69% of the new company and Celgene shareholders are expected to own around 31%.