By the numbers: 2-year tally of Celgene's biotech partnership deals tops $3B in cash
Bob Hugin and his busy dealmaking wiz George Golumbeski have positioned Celgene as an industry-leading wheeler and dealer.
$1 billion to partner with Juno on CAR-T? OK. $200 million in cash to rewrite a pact with Agios? They’ll take that. Another $450 million to partner with AstraZeneca on its checkpoint? No problemo. As bigger companies fretted over the valuations they were seeing in the biotech boom, Celgene’s executive team were struck by the opportunities. “If we see them, we’re going to go after them at the right time,” Celgene CEO Bob Hugin told me last summer, after grabbing Receptos for its immunology pipeline for $7.2 billion.
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