CELG Partners Impacted | CNCE Message Board Posts

Concert Pharmaceuticals, Inc.

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Msg  1301 of 1458  at  1/4/2019 12:21:35 AM  by

redhotace


CELG Partners Impacted

 Interesting, but I do not believe that the BMC & CELG deal impacts CNCE.
 

BUZZ-Celgene's $74 bln deal with Bristol-Myers weighs on partners

2:23 PM ET, 01/03/2019 - Reuters

** Shares of drugmakers that have partnered with Celgene Corp drop after Bristol-Myers Squibb Co says it will buy CELG for about $74 bln

** U.S.-listed shares of BeiGene Ltd down ~15 pct due to investor uncertainty regarding advancement of CELG-partnered solid tumor treatment tislelizumab

** Loss of an important operational and commercial partner, as well as doubts regarding the future of currently marketed CELG products in China is adding to the pressure on BGNE, says Leerink

** Leerink says tislelizumab expected to be returned to BGNE along with termination fee from BMY

** Brokerage also says Agios Pharma has most significant ties to CELG, anticipates some disruption as deal closes although collaboration programs do not appear to be at risk; AGIO fell as much as 3 pct

** Other CELG partners such as Epizyme Inc, Acceleron Pharma, Zymeworks Inc, OncoMed Pharma, Concert Pharma down between 1 pct-10 pct

** Clovis Oncology down 10 pct and Seattle Genetics down ~1 pct due to lower likelihood of BMY buying the cos near term (Reporting by Saumya Sibi Joseph in Bengaluru)

 


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