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24.01.2020 20:27:00

An Emboldened Bristol-Myers Squibb Wants $1.5 Billion From Gilead Sciences

Last year, Bristol-Myers Squibb (NYSE: BMY) spent $74 billion for Celgene and its mixed bag of commercial and clinical-stage drugs. Analysts are still arguing about whether the big pharma overpaid, but last month a jury helped tip the scales in Bristol's favor by ordering Gilead Sciences (NASDAQ: GILD) to pay Bristol $752 million in damages for infringing on patents that Celgene acquired years earlier.In a recently filed motion, Bristol-Myers asked a federal judge in California to include punitive damages that would raise Gilead's penalty to $1.5 billion to include punitive damages along with compensation and a royalty rate of 27.6% on Yescarta sales.  Continue reading
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