Bristol-Myers's Celgene Deal Is Record for Pharma

(Bloomberg) -- Bristol-Myers Squibb Co.’s acquisition of Celgene Corp. values the target at $88.8 billion, including net debt, according to data compiled by Bloomberg. That surpasses Pfizer Inc.’s purchase of Warner-Lambert, announced in 1999, as the biggest-ever acquisition of a pharmaceutical or biotech company, the data show. Pfizer’s failed bid for AstraZeneca in 2014 would have taken the top spot had it gone through.

To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, John Lauerman

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