Drug Buyers' Retooled $34M Celgene Deal Wins Initial OK

Law360 (May 21, 2020, 5:12 PM EDT) -- A New Jersey federal judge has given the preliminary green light to a $34 million deal between drug buyers and Bristol-Myers Squibb unit Celgene over allegations the drugmaker illegally monopolized a pair of cancer treatments.

U.S. District Judge Madeline Cox Arleo issued a brief decision Wednesday finding the deal "is sufficiently within the range of reasonableness" and called for a proposed class of drug buyers, including consumers, cities and union benefit funds, to start putting together a plan to alert other potential class members of the settlement.

Wednesday's stamp of approval comes a few months after Celgene astonished drug buyers by torpedoing...

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