Celgene Corp. has high hopes for its latest acquisition, Impact Biomedicines, whose fedratinib is envisioned as one of multiple blockbuster drugs in the company's mostly-partnered late-stage pipeline – and the purchase for $1.1bn up front is likely just one of multiple deals to come in 2018.
Celgene's $1.1bn Impact Buy Is First Of More Deals To Come In 2018 And Beyond
Celgene believes it's acquiring a $1bn drug, not a me-too JAK inhibitor in its purchase of Impact Biomedicines for $1.1bn up front. Investors appeared skeptical of fedratinib's potential, but the company said at the J.P. Morgan meeting that it will execute more deals to build out its pipeline.
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