Deals, Insiders

Celgene’s top 20 upfront hits: Just how generous was Celgene in dealmaking? Let’s review the records

Editor's Note: With Celgene showcasing its "continued commitment to work with partners" in twin deals today, we asked Chris Dokomajilar, founder and CEO of DealForma, to take a look at the Big Biotech's history of dealmaking, paying special attention to the upfront.

Celgene signed 91 deals over the last 10 years, so it’s definitely among the most active deal makers. That’s more deals than Biogen and Gilead and about as many as Genentech and Amgen during the same period. BMS did 131. Celgene has made over $24 billion in acquisitions, buying 11 biotech companies since 2002. They’ve signed 58 compound and platform in-licenses since 2009, some of which are major expansions of previous deals. Those partnerships and a few other deal types that we track have paid out over $3 billion in upfront payments. However, a majority of those are option deals.

Not counting deals that were terminated prior to 2019, there’s over $7 billion in milestones that may soon be on a very different looking decision chart.

Here's the chart of the top 20 upfronts:

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