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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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.
Celgene's quarterly earnings call was all about reassuring investors that its products and pipeline will deliver the full value of the company's acquisition by Bristol-Myers after the deal closes in the third quarter.