Bristol-Myers Reaches $239 Million Celgene Investor Deal (2)

Bristol-Myers Squibb Co., which acquired Celgene Corp., and two former Celgene executives agreed to pay $239 million to end an investor class action alleging they misrepresented the approval prospects of a multiple sclerosis drug ozanimod, now sold as Zeposia.

The investor leading the class sought preliminary approval Tuesday from the US District Court for the District of New Jersey, which would end almost eight years of litigation with the pharmaceutical company formerly known as Celgene that was bought out by Bristol-Myers in 2019.

“Bristol Myers Squibb is pleased to have reached an agreement to resolve this matter, allowing ...