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Celgene buys Pharmion for $2.6bn in cash and stock

Executive Summary

Hematology and oncology immunotherapeutics company Celgene has agreed to purchase Pharmion (cancer treatments) for $2.7bn in cash and stock ($2.6bn net transaction value after subtracting Pharmion's net cash, according to the M&A conference call). Celgene will pay $25 in cash and, based on the current stock prices, $47 in its own stock, for each of Pharmion's outstanding shares; the exact share ratio will be determined when the deal closes. The total $72 per share price is a 45% premium to Pharmion's preannouncement market average.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Intra-Biotech Deal
    • Payment Includes Cash
    • Payment Includes Stock

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