Celgene to acquire Pharmion for $72/share

SUMMIT, N.J. Celgene and Pharmion have announced a merger agreement, under which Celgene has agreed to acquire Pharmion. Celgene will acquire all of Pharmion’s outstanding shares of common stock for $72 per share payable in cash and share of Celgene common stock.

Under the agreement, Celgene will acquire the rights to three popular Pharmion oncology drugs: Revlimid, Thalomid, and Vidaza. Thalmoid and Revlimid are used to treat patients with multiple myeloma. Vidaza is used to treat myelodysplastic syndromes.

“The acquisition of Pharmion is an exceptional strategic fit that will expand our role as a leader in hematology and oncology,” said Sol Barer, chairman and chief executive officer of Celgene Corporation. “Our combined global infrastructure will leverage the therapeutic and commercial potential of Pharmion’s products, particularly Vidaza, which has the potential to become a major global therapy. By bringing together the talents and resources of both companies, we move closer to our vision of becoming a leading hematology and oncology company in the world, expanding our industry leading programs for safety, access and patient support.”