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
Monday, the French pharma giant officially moved into its new global home base in Paris, dubbed La Maison Sanofi. The 9,000-square-meter (about 96,875-square-foot) facility comprises two historic buildings and will host around 500 employees, the company explained in a release.
On the first day of the new year, former Sandoz chief Richard Francis will take the reins from Schultz, who is hanging up his CEO hat to retire on Dec. 31, Teva said Monday. The news comes a little more than two weeks after Teva publicly said it was looking for Schultz’s replacement.
General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the soon-to-be-public company. The Boston conglomerate plans to split into three separate public companies by early 2024. Following the healthcare spinoff, it plans to separate its aerospace business from its power and renewable-energy units.