I also expect the dividend to increase steadily and meaningfully.
- Any concern about the$37 billion in new debt to fund the acquisition - which BMY was confident that Revlimid alone would be able to retire - was substantially ameliorated when a buyer agreed to pay $13.4 billion for Otezla.
- What little news there has been this year about Revlimid patents has been good, and the bull case on protecting this IP looks stronger than ever.
- Some exciting data on new iMIDs suggests that Revlimid may become less important in Celgene's MM treatment paradigm over time anyway.
- Celgene has executed flawlessly on the drug development and financial fronts for 21 months.
- Most of the news out of BMY since the deal was announced has been very good.