2019:BMS buys celgene for 74b. 2024 BMS market cap: 89b

Not one word about leaderships/board of directors disaster of a decision.

 

Unbelievable isn't it? The entire LT is getting paid handsomely to completely wreck the company and people doing the actual work are losing their jobs. LT has no skin in the game, certainly not buying stock.

"Show me the incentive, and I will show you the outcome." Charlie Munger

 

WHERE'S THE MONEY??

 

Wow

 

If you have stocks then vote.

 

Without Celgene’s pipeline BMS would be done

 

That's the inconvenient truth that only Finance understands. Without CELG's cash flow, we would have had a fundamental break up in 2020. CELG saved us for a bit, but when we sold Otezla we lost an asset that was 99.9% profit and just printing cash. Instead, we not only bet on a loser, but we lost the profit flow,

 

Two years left on an old drug and mandated sale on the only only other one making money. As it was, while a financial shelf was in front of BMS, they were still making money from Eliquis Opdivo Yervoy, etc...so...sorry....not quite as dire as depicted. Let's remember these same geniuses sold of a few assets (Dapigaflozin, Migraine drugs, got out of neuroscience, bought back into neuroscience for the red hot growth market of... schizophrenia... and a few powerful members of the BOD and block shareholders thought the Celgene deal would be a sh:t burger based on share price, it was... What can I say... deal makers....

 

The quality of life of employees who will work on the schizo drug will be miserable. The side effect of suicide in patients for such drugs will eat into them as they keep defending the drug.

 

This is indeed the inconvenient truth that all BMS lifers refuse to acknowledge. They needed a cash & pipeline life raft to save an already declining company. They bought the right life raft but decided to punch a hole in it by selling off a cash cow of a product in place of a crap TYK2, walking away from Sotatercept and perpetuating the woeful R&D/ Commercial track record of failure by keeping inept leadership in place across therapeutic areas. Instead of navigating through the patent cliff, Boner & Lerch have turned themselves into "Thelma and Louise"

 

A choice was made.

They idiotically doubled down on TYK2 and divested Apremilast

How many less people who were shitcanned since then would still have jobs if not for that one fatal decision?

 

Just look at any leadership role across the organization, is there ANYONE who inspires any level of confidence? I have never seen such uniformity of ineptitude. These people couldnt walk through a set of doors that didnt open automatically. The same tone-deaf idiots in charge are the ones who drove us into the ditch. Lerch could run a free kisses stand in a prison. Boner best not walk near a busy road or be confused with a stunned deer. R&D needs a compass. Commercial leadership is a living performance art tribute to all peter-principled, CYA & fire anyone who disagrees stereotype. What a mess. I am in final stage interviews with another company and only hope my name is on the next layoff list. It would be terrific to double dip. Until then, I will enjoy the Spring weather and continue to churn through my Netflix watchlist.

 

How is Meg still here?

 

fools like you perpetuate the myth that the FTC mandated the sale of Otezla. They did not. Fact! hard stop.

they mandated that we only keep one. WE made the decision to sell Otezla. It wasn't mandated. We could have sold deucra. Instead, our arrogance and lack of knowledge of derm caused us to bet on our asset. Turned out to be a loser bet. Worst part is not that we suffered but that those lazy Enbrel Amgenites got Otezla. Even they can't ruin it.

 

Yeah and don’t forget all their great people. Lol

 

A bunch of people with nothing to do under suck ass leadership. I’m sorry.

 

The Celgene acquisition was a Hail Mary by Caforio that was caught on the 5 yard line but then fumbled into the end and then out of bounds. The pandemic bought him some time but ultimately he was forced out under the smoke screen of retirement. Now Boner and Lerch are left trying to herd cats as their recent buying spree does little to soothe the concerns of institutional shareholders

 

Some good ones.
But it’s not a CV company.
CV at BMS is king.

 

Dak and the Cowboys fans in Texas keep ripping Celgene.