Bristol-Myers Squibb Co. said on Jan. 3 it would buy Celgene Corp. for about $74 billion, creating one of the biggest pharmaceutical companies and combining two significant cancer drug businesses.
Yet the deal comes as both Bristol-Myers and Celgene face separate challenges, and some Wall Street analysts questioned if the combination—which the companies said would create $2.5 billion in cost savings and raise earnings—would solve them.
