Bristol-Myers Squibb CEO Giovanni Caforio told CNBC on Friday the company can be “one step closer to creating that will great company” after shareholders greenlit a $74 billion takeover of Celgene.
He expects that will the deal for the cancer drugmaker will close from the third quarter.
“When the two companies come together, we’ll have two growing businesses,” Caforio said in an interview with “Mad Money’s” Jim Cramer. “We’re going to be able to launch six brand new medicines, potentially, from the next two years. the item’s going to be a great company, [will] create value for shareholders, [along with will be] very not bad for patients.”
Celgene brings to Bristol-Myers 5 late-stage products that will could be approved from the near term, Caforio said. Four of the developing medicines could treat blood disorders, a branch that will Celgene has expertise in, along with could be “transformational,” he said.
Celgene can be also a leader, he added, in treatments for multiple myeloma, a cancer that will attacks the plasma cells that will create antibodies to fight infections.
“that will’s genuinely the value of the deal can be the pipeline. We talk about 5 pipeline assets, potential launches from the next two years. In fact, three of those medicines have been filed with the FDA since the beginning of the year. So we’re producing great progress already, which can be validating our thesis.”
Shares of Bristol-Myers along with Celgene both climbed Friday morning after the vote, though both ended the session from the red. Bristol-Myers closed down more than 1.1%. Celgene dipped 0.1%.
“I’m focused along with we’re focused on creating value for the long term along with we’re getting to work on the integration,” Caforio said. “As we start working together, we have an opportunity to launch brand new medicines right away. I believe the value of the brand new company will be demonstrated rapidly.”