Pharma BD Deal Intelligence

Celgene Corporation / Bristol-Myers Squibb Company

2018 · Acquisition/Merger · $9.0B · Complete

Celgene's $9B all-cash acquisition of Juno Therapeutics gave it full control of JCAR017 (liso-cel), a CD19-directed CAR-T in pivotal trials for DLBCL, cementing Celgene's cell-therapy ambitions. The strategic goal was only partially achieved—liso-cel eventually reached market as Breyanzi, but well behind rival CAR-T therapies already approved.

CALLED IT — OFF BY 5
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The coverage arc

Jan 22, 2018 Celgene 8-K/EX-99.2 - Deal Announcement Neutral

Celgene Corporation to acquire Juno Therapeutics, Inc.

Mar 06, 2018 Celgene 8-K/EX-99.2 - Completion Announcement Neutral

Celgene completes acquisition of Juno Therapeutics, Inc.

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Celgene acquired Juno Therapeutics for approximately $9 billion ($87 per share in cash), gaining full ownership of JCAR017 (lisocabtagene maraleucel), a potentially best-in-class CD19-targeted CAR-T cell therapy in pivotal trials for diffuse large B-cell lymphoma.

Key facts

Disease & market context

Non-Hodgkin Lymphoma

80K US cases/yr · $18.0B Global NHL therapeutics

Disease Overview

Non-Hodgkin lymphoma encompasses >60 subtypes of blood cancer. DLBCL and follicular lymphoma are most common. CAR-T, bispecifics, and novel targeted agents have expanded treatment options across subtypes.

Standard of Care & Competitive Landscape

Varies by subtype. Rituximab-based regimens backbone. CAR-T for R/R aggressive NHL. BTK inhibitors for MCL/CLL. Key players: Roche (Rituxan, Polivy), Gilead/Kite (Yescarta), BMS (Breyanzi), AbbVie (Imbruvica).

Diffuse Large B-Cell Lymphoma (DLBCL)

30K US cases/yr · $5.0B Global DLBCL therapeutics

Disease Overview

DLBCL is the most common aggressive lymphoma. R-CHOP has been standard for decades. CAR-T therapy and bispecific antibodies have transformed relapsed/refractory disease.

Standard of Care & Competitive Landscape

First-line: R-CHOP or pola-R-CHP. R/R: CAR-T (axi-cel, liso-cel), bispecifics (glofitamab, epcoritamab). Key players: Roche (Polivy, Columvi), Gilead/Kite (Yescarta), BMS (Breyanzi), AbbVie/Genmab (Epkinly).

Deal timeline

Related deals — scored

DealYearValueOutcome
Celgene Corporation / Bristol-Myers Squibb Company (this deal)2018$9.0B68
Celgene Corporation / Bristol-Myers Squibb Company2015$2.0B85
Celgene Corporation / Agios Pharmaceuticals Inc.2010$130M83
Celgene Corporation / Abraxis BioScience Inc.2010$2.9B65
Celgene Corporation / Receptos Inc.2015$7.2B63
Celgene Corporation / Impact Biomedicines2018$7.0B54
Celgene Corporation / Gloucester Pharmaceuticals, Inc.2009$640M40

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