Celgene to Acquire Juno Therapeutics for $9 Billion

Biotech giant Celgene, who already owns a 9.7% stake in Juno announced this week that it will be acquiring Juno Therapeutics in a deal valued at $9 billion.

The company will be acquiring the 90% stake that is left in the company and is paying roughly $87 a share to get it.

Juno is known for its pipeline of CAR-T blood cancer drugs which includes JCAR017. The treatment for non-Hodgkin lymphoma is anticipated to receive regulatory approval in 2019 and according to Celgene, the drug is “significant growth driver beyond 2020.”

The company stated that the drug should “be a significant growth driver beyond 2020 with potential global peak sales of approximately $3 billion.”

Shares of Juno soared over 26% on the news announcement while Celgene shares barely inched up.

Disclaimer: We have no position in Celgene Corporation (NASDAQ: CELG) nor Juno Therapeutics Inc. (NASDAQ: JUNO) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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