Deals
With $9 Billion Juno Deal, Celgene Doubles Down on Cancer
- With Juno, Celgene gains cutting edge CAR-T cancer technology
- Celgene hopes to reverse fortunes after setbacks last year
Celgene's Hugin: Drug Prices Should Be Fair
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Celgene Corp. made one of its largest deals ever with the $9 billion acquisition of Juno Therapeutics Inc., placing a costly bet on cutting-edge cancer treatments.
Celgene will gain research into a novel class of therapies known as CAR-T that use the body’s own immune system cells to fight cancer. The Summit, New Jersey-based company will pay $87 a share in cash, according to a statement Monday. That’s 91 percent above Juno’s closing price Jan. 16, the last trading day before the Wall Street Journal reported the companies were in talks.