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Celgene closes $2.9bn Pharmion deal


US-based multinational corporation Celgene has completed its $2.9bn acquisition of Pharmion Corporation.

The deal brings together multiple myeloma medications Revlimid® (lenalidomide) and Thalomid® (thalidomide), and myelodysplastic syndrome treatment Vidaza® (azacitidine).

A statement from the company said: “These products are expected to generate multiple global revenue streams for accelerated financial growth as we move into nearly 100 countries over the next five years and beyond.”

Dr Sol Barer, chairman and chief executive officer of Celgene, commented: “We are creating a global leader in haematology/oncology.

“We are now able to serve these patients through three major approved therapies, with a strong portfolio of haematology and solid tumour candidates advancing through our pipeline to address future needs.

“In addition, we have a number of innovative programmes encompassing therapies for immune/inflammatory disorders, haematological malignancies and other cancers.

“We believe our combined capabilities can maximise the clinical, regulatory and commercial potential of all of these programmes.”

Copyright © PA Business 2008


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