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Deal Watch: Celgene CVR From BMS Buyout Falls Through

 
• By Joseph Haas, Anju Ghangurde, and Jung Won Shin

Another victim of the COVID-pandemic, Celgene's $9-per-share contingent value right tied to BMS obtaining approval of three drugs goes unrealized due to FDA travel restrictions slowing down site inspections. Clene goes public, United Therapeutics buys PRV from Y-mAbs.

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Scrip regularly covers business development and deal-making in the biopharmaceutical industry. Deal Watch is supported by deal intelligence from Biomedtracker.

As feared by some investors, the pandemic-related delay in manufacturing site inspections resulted in lisocabtagene maraleucel (liso-cel) not being approved by the US Food and Drug Administration by 31 December, meaning that Celgene Corporation shareholders missed out on a potential $9-per-share contingent value right under the 2019 buyout by Bristol Myers Squibb Company

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