Bristol Myers Squibb is facing a revived $6.7 billion lawsuit after a federal appeals court reinstated claims tied to its Celgene acquisition. Plaintiffs allege the company deliberately delayed FDA approval of certain drugs to avoid paying contingent value rights owed to former Celgene shareholders. The appeals court decision brings renewed legal and financial uncertainty related to how the Celgene transaction was structured. The case does not directly affect the scientific strength of the pipeline or recent approvals such as ZENBEXUS, but it could influence how investors think about potential cash calls, management bandwidth and the risk premium applied to a business that is also contending with patent cliffs and pricing pressure.
Bristol-Myers Squibb CompanyAppeals court reinstates $6.7B lawsuit over Celgene deal, adding legal and financial uncertainty.
