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Celgene Corporation Message Board

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  • moridian moridian Jan 20, 1998 8:49 PM Flag

    CBM purchases Celgene Chiral Intermediat

    Celgene sold the rights because this was not their main area of focus & didn't expect this division to produce profits for many years. By selling it, CELG is able to focus on their drug pipeline & other divisions which have a more immediate potential return for the co. By selling this division celgene also reduces losses incurred by this division which should help a drop on the loss per share. The 7.5 Mill probably goes to earnings in 1998, which should make the P&L look better for '98.

    I have also heard that approval is expected on Thalidomide shortly. The rumor is probably related to the co. meeting with the FDA within the past 2 weeks

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