Juno Therapeutics shares soared more than 50 percent in premarket trading after The Wall Street Journal reported the biotech company is in talks to be acquired by Celgene.
Shares of Juno rose $26.71 to $72.31 in premarket trading on Wednesday morning. The Seattle-based company had a market share of about $5.2 billion as of Tuesday.
Celgene is seeking to broaden its portfolio of blood-cancer drugs before Revlimid, its top-selling drug, loses its patent protection, The Journal noted. Juno’s approach is focused on developing treatments that use the body’s immune system to fight cancer.
The acquisition discussions could result in a deal within weeks, although it’s unclear how much Celgene would pay for Juno, The Journal added.
Source: CBS News
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
