United States-based Bristol-Myers Squibb (BMS) has completed the acquisition of United States-based Celgene.

It was reported yesterday that the cash-cum-stock deal is valued at around USD74bn. According to the transaction details, Celgene shareholders received 1.00 share of BMS common stock and USD50 in cash without interest for each share. Celgene shareholders are also provided with one tradeable contingent value right (CVR), which will allow them to secure a payment of USD9.00 in cash based on the achievement of certain regulatory milestones in the future.

This move is intended to allow Celgene to become the wholly-owned subsidiary of BMS. The merger of both firms is expected to result in a speciality biopharma company that will develop high-value innovative medicines to meet the requirements of patients with cancer, inflammatory and immunologic disease and cardiovascular disease.