The trial tested Empliciti with Revlimid and dexamethasone in newly diagnosed patients ineligible for bone marrow transplant. Although approved in relapsed/refractory disease, Empliciti has not kept pace on the market with other myeloma drugs.
BMS's acquisition of Celgene had attracted opposition from two institutional investors. However, one of them withdrew its effort to derail the deal despite continuing to voice opposition.
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In a call to following news of the deal, executives pointed to near-term launch opportunities and pipelines, but some analysts expressed concern about the loss of patent protection for Revlimid and Opdivo.
The acquisition brings together two of the largest drugmakers in the country, both of which are major players in biopharma, particularly oncology.