That En­gMab buy­out? Cel­gene agreed to pay up to $3B for BC­MA-tar­get­ing drug

That En­gMab buy­out deal by Cel­gene was a lit­tle big­ger than we first re­port­ed at the end of Sep­tem­ber.

Af­ter hear­ing that Cel­gene — one of the most mus­cu­lar deal­mak­ers in biotech — was telling an­a­lysts that it had snagged a deal to buy the Swiss biotech, we con­firmed the news with a com­pa­ny spokesman, but on­ly got the up­front for our scoop.

The lat­est quar­ter­ly re­port from Cel­gene $CELG re­veals that the over­all buy­out deal is much larg­er in scope. The big biotech paid $625.3 mil­lion in cash up­front, added in $155 mil­lion in de­vel­op­ment and reg­u­la­to­ry mile­stones and topped it off with $2.3 bil­lion for com­mer­cial mile­stones based on sales.

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