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Mehta Analysis: BMS/Celgene Merger Shows Big Pharma Is Stuck In Wrong Groove

 
• By Viren Mehta

Bristol-Myers Squibb executives are justifying the acquisition of Celgene in terms that have been well-rehearsed through the history of big pharma mergers. But they are failing to consider radical changes to the environment in which pharma operates, argues Viren Mehta of Mehta Partners LLC.

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Pharma mega-mergers: value creators or destroyers? • Source: Shutterstock

In Gujarati, we have a saying, ‘Kona Bap-ni Diwali?’, or KoBaDi for short. It translates as‘Whose father may end up paying for this folly, such wishful thinking?’

Enter the mother of all biopharma deals, Bristol-Myers Squibb Co.’s proposal to acquire Celgene Corp. for about $90bn,...

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