Celgene to acquire privately-owned biotech peer Impact Biomedicines for up to US$7bn
Monday, 8 January 2018 () Celgene Corp (NASDAQ:CELG) announced on Sunday that it had agreed to acquire privately-owned biotech peer Impact Biomedicines for up to US$7bn, subject to certain milestones associated with regulatory hurdles and sales performance. The biotech pharmaceutical firm pointed out that it is interested in Impact Biomedicines’ fedratinib product - a kinase inhibitor has shown promise as a potential treatment for a type of blood cancer called myelofibrosis. Celgene is paying US$1.1bn in cash upfront for the San Diego-based company, plus an additional US$1.4bn depending on the receipt of US Food and Drug Administration milestone approvals. The firm will also make payments depending on sales, with a maximum of US$4.5bn due if annual net sales of Impact’s treatments exceed US$5bn. New Jersey based Celgene specialises in treatments for multiple myeloma. In pre-market trading its shares were 1.3% higher at US$106.38.
(Reuters) - Celgene Corp , which has announced a deal to buy Impact Biomedicines, on Monday forecast 2018 total revenue that fell short of analysts' estimates,... Reuters - Health
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Celgene Corp. agreed to buy blood-disease biotechnology company Impact Biomedicines in a deal that could reach a $7 billion valuation. The Summit, New... bizjournals - Business
Celgene has signed a deal to make an initial payment of $1.1 billion for Impact Biomedicines, the maker of a cancer drug, but -More- SmartBrief - Business
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