Media reports CELG in talks to buy JUNO
WSJ reported that CELG is in talks to acquire CAR-T cancer partner JUNO, with no terms disclosed. If true, this potentially indicates a competing bid for JUNO has nullified the existing CELG-JUNO stand-still agreement. While difficult to analyse in the absence of details, a potential deal could add >$800m in incremental operating profit on JCAR17 alone, with additional upside from solid tumour and TCR programs. A potential deal would be in-line with our view that CELG will move quickly to deploy its ample financial resources in order to offset Revlimid.Celgene is a global biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. The company's primary commercial stage products include: REVLIMID?, an oral immunomodulatory drug; POMALYST?/IMNOVID?, a proprietary, small molecule; OTEZLA?, an oral small-molecule inhibitor of phosphodiesterase 4 for cyclic adenosine monophosphate; ABRAXANE?, a solvent-free chemotherapy product; and VIDAZA?, a pyrimidine nucleoside analog. In addition, the company provides other product sales and licensing arrangements.
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