Today marks the first test for Celgene’s legacy
Bristol Myers Squibb’s $74 billion acquisition of Celgene has long since closed, but to a sizable group of investors, there’s still plenty of intrigue. Every Celgene shareholder is entitled to $9 per share if three of the company’s drugs win approval on a certain timeframe, and today brings the first hurdle to clear.
The FDA has promised to decide on ozanimod, a treatment for multiple sclerosis. The drug has had a checkered regulatory path to this point, but it’s widely expected to get the green light. The next two might not be such sure things. One, a cancer treatment acquired from Juno Therapeutics, is manufactured in Washington, a state that has been ravaged by the novel coronavirus. The other, licensed from Bluebird Bio, has yet to be filed with regulators, which means it could run into pandemic-related delays down the road.
Investors seem to think it’s a risky bet. Those $9 lottery tickets are traded on the public market, and they currently go for about $3 each, implying just 33% odds of success.
The FDA has promised to decide on ozanimod, a treatment for multiple sclerosis. The drug has had a checkered regulatory path to this point, but it’s widely expected to get the green light. The next two might not be such sure things. One, a cancer treatment acquired from Juno Therapeutics, is manufactured in Washington, a state that has been ravaged by the novel coronavirus. The other, licensed from Bluebird Bio, has yet to be filed with regulators, which means it could run into pandemic-related delays down the road.
Investors seem to think it’s a risky bet. Those $9 lottery tickets are traded on the public market, and they currently go for about $3 each, implying just 33% odds of success.
.png)
No hay comentarios:
Publicar un comentario