Private Eyeing
People Are Talking About a Celgene LBO; That Should Worry It
As if losing $40 billion in market cap weren't enough of a warning for the drugmaker.
Mark Alles, chief executive officer of Celgene Corp., speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, May 1, 2017.
Photographer: David Paul MorrisThis article is for subscribers only.
Talk about adding insult to injury.
Celgene Corp.'s shares have lost 37 percent since October, hurt by a guidance cut and drug-development setbacks. Highlighting the extent of the drugmaker's struggles, RBC Capital Markets analyst Brian Abrahams on Wednesday suggested in a note to clients that a leveraged buyout could cure its ills.