Celgene's $1.1bn Impact Buy Is First Of More Deals To Come In 2018 And Beyond
Celgene believes it's acquiring a $1bn drug, not a me-too JAK inhibitor in its purchase of Impact Biomedicines for $1.1bn up front. Investors appeared skeptical of fedratinib's potential, but the company said at the J.P. Morgan meeting that it will execute more deals to build out its pipeline.
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There have been lots of twists and turns on the development path for Inrebic which is now the second JAK inhibitor to be approved in the EU for MF since the blockbuster Jakavi was cleared in 2012.
With no more activist investor challenge, shareholders of both companies overwhelmingly approved the deal. Bristol said it will have leading positions in oncology and cardiovascular disease, and gain five potential blockbusters in the Celgene buyout.
The latest drug development news and highlights from our US FDA Performance Tracker.