|Bid||102.29 x 100|
|Ask||102.30 x 1300|
|Day's Range||99.99 - 103.23|
|52 Week Range||94.55 - 147.17|
|PE Ratio (TTM)||24.02|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The "Squawk on the Street" crew discusses Celgene's $9 billion cash deal for Juno Therapeutics and Sanofi's $11.6 billion bid for Massachusetts-based Bioverativ.
Celgene Corporation (NASDAQ:CELG) announced this morning that it is acquiring Juno Therapeutics Inc (NASDAQ:JUNO) for $9 billion or $87/share (net of the ~10% it already owns). In a report released today, Guggenheim analyst Anthony Butler downgraded JUNO to Hold.
Shares of immunotherapy companies including Ziopharm Oncology and Fate Therapeutics rose early on Monday on the heels of Juno Therapeutics' announced sale to Celgene.
Celgene said it agreed to buy Juno Therapeutics for $87 a share in cash, or about $9 billion, in a move that will expand Celgene’s portfolio of blood-cancer drugs.
Celgene said on Monday it would pay $87 per share for the roughly 90 percent of Juno it does not already own. Juno focuses on chimeric antigen receptor T-cell therapy, known as CAR-T, which harnesses the body's own immune cells to recognize and attack malignant cells.
The acquisitions will fuel expectations for a busy year of mergers and acquisitions (M&A) as large drugmakers snap up promising assets from smaller rivals to help revive growth. Sanofi agreed to buy U.S. haemophilia expert Bioverativ for $11.6 billion, its biggest deal for seven years, while Celgene is paying about $9 billion for the 90 percent of cancer specialist Juno Therapeutics it does not already own.
Moody's Investors Service ("Moody's") affirmed the ratings of Celgene Corporation ("Celgene") including the Baa2 senior unsecured long-term rating and the Prime-2 short-term rating. ...
The acquisitions will fuel expectations for a busy year of mergers and acquisitions (M&A) as large drugmakers snap up promising assets from smaller rivals to help revive growth. Sanofi agreed to buy U.S. hemophilia expert Bioverativ for $11.6 billion, its biggest deal for seven years, while Celgene is paying about $9 billion for the 90 percent of cancer specialist Juno Therapeutics it does not already own.
For the biotech superstar, Celgene Corporation (NASDAQ:CELG), the last few months have not been too kind. CELG stock has hit a rough patch on several different fronts. That included it stopping phase 3 clinical trials for a potential blockbuster for Crohn’s disease as well as reducing forward earnings forecasts based on that stoppage and the fact that Revolve won’t be coming to market.
The new year’s health-care deals began to snowball as Sanofi and Celgene Corp. scooped up assets that promise to offset pricing pressure for some of their top-selling drugs.
NEW YORK (AP) — U.S. stock indexes are edging higher Monday, led by energy companies. High-dividend stocks are also higher as bond yields decline, but industrial companies are falling. Yields had climbed to their highest level in more than three years last week. French pharmaceutical company Sanofi and biotech drugmaker Celgene both announced large acquisitions. Investors aren't fazed by the federal government shutdown as it entered its third day.
Celgene Corp. has agreed to acquire Juno Therapeutics Inc. for about $9 billion, or $87 a share. The announcement comes on the heels of a report that the two companies were finalizing a deal, per The Wall Street Journal . Summit, New Jersey-based Celgene has been trying to diversify its portfolio to help offset losses it would suffer if one of its drugs, Revlimid, loses patent protection in the U.S. This particular deal will add a lymphoma treatment — expected to gain regulatory approval in 2019 — to Celgene’s portfolio.
The S&P and the Nasdaq were marginally higher on Monday, while losses in industrial stocks such as General Electric and Boeing as well as Apple weighed on the Dow. A U.S. government shutdown entered its third day, and a bipartisan group of senators attempted to negotiate a deal just hours before the full Senate planned to vote to restore funding. The Nasdaq Composite was up 19.37 points, or 0.26 percent, at 7,355.75.
Celgene will acquire Juno Therapeutics for $9 billion. Sanofi reached a deal Monday to buy hemophilia drugmaker Bioverativ for $11.6 billion, or $105 a share.
Celgene Corp.’s deal to buy Juno Therapeutics Inc. for about $9 billion might not be the biggest deal that we’ll see this year. It could be the most expensive.
S&P 500 futures have dipped 0.1%, while Dow Jones Industrial Average futures have fallen 49 points, or 0.2%. Nasdaq Composite futures are little changed. Contrast that with Europe, where Germany's Social Democrats agreed to negotiate with Angela Merkel on a new government, something that could pave the way for her to serve a fourth term as that country's leader.
Wall Street was set to start the week slightly lower as a U.S. government shutdown entered its third day, while investors assessed a flurry of multi-billion corporate mergers. The Senate is set to vote at midday on Monday, following failed attempts by Democrats and Republicans to strike a deal on Sunday to fund government operations.
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Celgene inks the Summit, N.J.-based group's biggest-ever takeover with a $9 billion play for cancer treatment specialist biotech Juno Therapeutics.