Bristol-Myers Squibb Issues Statement on Celgene’s Settlement with Alvogen on Revlimid® Patent Litigation

Bristol-Myers Squibb Company (NYSE:BMY) today issued the following statement regarding Celgene’s (NASDAQ:CELG) settlement with Lotus Pharmaceutical Co., Ltd. and Alvogen Pine Brook, LLC (collectively, “Alvogen”) relating to patents for Revlimid:

“We are pleased that Celgene has reached a settlement with Alvogen related to patents for Revlimid. This announcement is consistent with our assumptions during due diligence and provides further clarity and security around the patent estate for Revlimid. We are confident in the strength of our combination with Celgene and our ability to create a premier biopharma company with leading franchises and a deep and broad pipeline that will drive sustainable growth.

We look forward to continuing to work with Celgene to complete the transaction, and strongly urge all Bristol-Myers Squibb shareholders to vote ‘FOR’ the proposals relating to the proposed transaction with Celgene at the upcoming Special Meeting.”

Additionally, the Company noted that in a March 29, 2019 report published prior to the disclosure of the settlement, Institutional Shareholder Services, an independent proxy advisory firm, concluded1:

“BMY’s perspective [about Revlimid] appears to be shared by a majority of the analyst community, and it has been strengthened since announcement of the deal by intervening events such as the PTAB’s recent IPR rulings in favor of Celgene.”

Bristol-Myers Squibb and Celgene expect the transaction to close in the third quarter of 2019, subject to approval by Bristol-Myers Squibb and Celgene shareholders and the satisfaction of customary closing conditions and regulatory approvals. The Bristol-Myers Squibb Special Meeting of Stockholders to vote on matters relating to the proposed merger is scheduled to take place on April 12, 2019 at 10:00 a.m. Eastern Time. All shareholders of record of Bristol-Myers Squibb common stock as of the close of business on March 1, 2019 will be entitled to vote their shares either in person or by proxy at the stockholder meeting.

If Bristol-Myers Squibb shareholders have any questions or require assistance in voting their shares of Bristol-Myers Squibb stock, they should call MacKenzie Partners, Inc., Bristol-Myers Squibb’s proxy solicitor for its Special Meeting, toll-free at (800) 322-2885 or at (212) 929-5500.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol-Myers Squibb, visit us at or follow us.

Certain Information Regarding Participants

Bristol-Myers Squibb, Celgene, and their respective directors and executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Bristol-Myers Squibb is set forth in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 25, 2019, its proxy statement for its 2018 annual meeting of stockholders, which was filed with the SEC on March 22, 2018, and its Current Report on Form 8-K, which was filed with the SEC on August 28, 2018. Information about the directors and executive officers of Celgene is set forth in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 26, 2019, as amended on March 1, 2019. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the definitive joint proxy statement/prospectus of Bristol-Myers Squibb and Celgene filed with the SEC and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. You may obtain these documents (when they become available) free of charge through the website maintained by the SEC at and from Investor Relations at Bristol-Myers Squibb or Celgene as described above.