Celgene shareholders, rejoice — you’ve been given a way out, analysts say [MarketWatch]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: MarketWatch
Celgene shareholders, rejoice — you’ve been given a way out, analysts say On Thursday, most analysts could agree on one thing: Bristol-Myers Squibb Co.’s BMY, -13.26% agreement to acquire Celgene Corp. CELG, +20.69% is a very good thing for Celgene’s shareholders. Read : Bristol-Myers Squibb agrees to acquire Celgene for about $74 Billion Also : Boston Scientific’s latest deal is a good fit, analysts say “Celgene’s long-suffering investors are saved from their exposure to the management team at Celgene and their recent operational and executional mishaps,” wrote Leerink analysts. Celgene has dealt with several clinical and regulatory disappointments in the past year or so, including concerns surrounding its multiple myeloma drug Revlimid, which is due to lose patent protection in 2022. Leerink called the proposed acquisition “a fortuitous exit for Celgene investors,” adding there was a “low likelihood that Celgene’s stock would recover to 2017 highs” and that there was sti
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