Celgene may buy Juno Therapeutics
Juno Therapeutics is developing blood cancer treatments. Photo: BSIP/UIG via Getty Images
Celgene is in discussions to buy Juno Therapeutics roughly a week after agreeing to acquire a separate drug company, the Wall Street Journal reports. Juno's market cap was $5.2 billion at the end of Tuesday, and its stock jumped more than 43% in after-hours trading, suggesting a deal value of about $7.5 billion.
Get smart: Celgene, which already had a relationship with Juno, wants to own a piece of CAR-T treatments, which use a person's own immune cells to fight off cancer and are expensive. Celgene also appears to be prepping itself for 2027, when its blockbuster blood cancer drug Revlimid loses U.S. patent protection.