Dear fellow MoveOn member,
Bristol-Myers Squibb wants to buy out rival Celgene for $74 billion, the largest pharmaceutical merger ever.1 The consolidated company would have a veritable monopoly over oncology and cardiovascular medications.2
As patients, we bear the ever-increasing costs, and we can't afford to keep paying and paying. Many people depend on medicine to stay alive, and nobody should have to choose between a roof over their head and the drugs they need to thrive.
The Federal Trade Commission must listen to comments from the public before approving the merger. Here is our chance to speak up. This mega-merger will block the development and sale of affordable drugs and reduce competition just when we need more of it.
We've seen what happens when big pharmaceutical companies merge: medication prices soar. It happened to the Epi-Pen. It happened with arthritis drugs. It even happened with insulin.3
1. "Bristol-Myers to buy Celgene in a $74 billion deal; Celgene shares surge," CNBC, January 3, 2019
2. "Bristol-Myers says shareholders vote to approve Celgene takeover," Reuters, April 12, 2019
3. "To Fix High Drug Prices, Stop the Merger Madness," Fortune, May 17, 2016
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