Bristol-Myers Squibb to buy Celgene in $74 billion deal

The deal, which still needs the approval of shareholders and regulators, will be paid with a combination of stock and cash. Bristol-Myers Squibb, which itself is the result of a 1989 merger of two companies that traced their roots back to the 19th century. Bristol-Myers Squibb is the eighth largest US drugmaker, with annual revenue of $20.8 billion in 2017. Celgene is the ninth largest with revenue of $13 billion.

The combined company could become the fourth largest pharmaceutical company in the United States.

--This is a developing story

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