Celgene is in talks to buy biotechnology New Zealand Juno Therapeutics, The Wall Street Journal reported.
The news proves less than a week after the biotech giant announced it inclination buy Impact Biomedicines for $7 billion. Both Impact and Juno advance drugs that could boost Celgene in the market for blood-cancer treatment.
Celgene has been bout to diversify its portfolio before its best-selling blood-cancer drug, Revlimid, worsts patent protection, the Journal reported.
Jefferies analysts called the possible acquisition “smart,” because “the buyout would enable Celgene to coalesce Juno’s entire cell therapy platform and bring it all in house.”
Celgene has had an thought $500 million stake in Juno since September 2017, according to a communication from Jefferies.
Talks could lead to a deal in the coming weeks, horses mouths familiar with the matter told The Wall Street Journal. Articles of a possible deal were not revealed.
Shares of Juno Therapeutics escalated more than 34 percent on the news.
Representatives from Juno Curatives declined to comment to CNBC. Celgene did not respond to CNBC’s requests for animadversion.
Read more about the possible deal between Celgene and Juno Therapeutics from The Palisade Street Journal.