Celgene to purchase Impact Biomedicines for up to $7 billion
Celgene announced Sunday that it reached a definitive agreement to acquire Impact Biomedicines, gaining rights to the latter’s investigational JAK2 inhibitor fedratinib, which is being developed to treat myelofibrosis and polycythaemia vera. Under the deal, Celgene will make a cash payment of approximately $1.1 billion upfront, with Impact Biomedicines’ shareholders eligible for additional payments of up to $1.4 billion if fedratinib gains approvals in myelofibrosis and other indications. Further, Celgene stated that additional payments could reach as much as $4.5 billion if global annual sales rise above $5 billion.
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