|Headquarters||Summit, New Jersey, U.S.|
|Robert J. Hugin (Executive Chairman)|
Sol J. Barer (Founder)
Mark Alles (CEO)
Number of employees
Celgene Corporation is an American biotechnology company that discovers, develops and commercializes medicines for cancer and inflammatory disorders. It is incorporated in Delaware and headquartered in Summit, New Jersey. The company's major product is Revlimid (lenalidomide), in combination with dexamethasone for the treatment of multiple myeloma patients. Revlimid is also approved in the United States for the treatment of patients with transfusion-dependent anemia, due to Low- or Intermediate-1-risk Myelodysplastic syndromes (MDS) associated with a deletion 5q cytogenetic abnormality with or without additional cytogenetic abnormalities. Revlimid is sold through proprietary risk-management distribution programs, to ensure safe and appropriate use of these pharmaceuticals. Vidaza is approved for the treatment of patients with MDS.
Celgene Cellular Therapeutics, a subsidiary, is a public cord blood bank.
In 1986, Celgene, originally a unit of the Celanese Corporation, was spun off as an independent company following the merger of Celanese Corporation with American Hoechst Corporation.
In August 2000, Celgene acquired Signal Pharmaceuticals, Inc., a privately held company that searches for and develops pharmaceuticals that regulate disease-related genes. Signal Pharmaceuticals, Inc. now operates as Celgene Research San Diego, a wholly owned subsidiary of Celgene Corporation.
In December 2002, Celgene acquired Anthrogenesis, a privately held New Jersey-based biotherapeutics company and cord blood banking business, which is developing technology for the recovery of stem cells from placental tissues following the completion of full-term successful pregnancies. Anthrogenesis now operates as Celgene Cellular Therapeutics, a wholly owned subsidiary of Celgene.
In 2006, Celgene certified McKesson Specialty, a specialty pharmacy, as one of a select group of RevAssist(SM) Program contract pharmacies to launch lenalidomide (trade name Revlimid). As a specialty drug, lenalidomide requires special handling and is therefore only available through the RevAssist program, a unique distribution network employing only certified, contracted specialty pharmacies.
In March 2008, Celgene closed its $2.9 billion acquisition of Pharmion Corporation.
In December 2009, Celgene announced the acquisition of Gloucester Pharmaceuticals.
In 2010, Celgene looked to relocate its UK headquarters from Riverside House in Windsor to a new development Stockley Park, Uxbridge. In June 2010 Celgene Corporation and Abraxis BioScience Inc. jointly announced the signing of a definitive merger agreement in which Celgene has agreed to acquire Abraxis BioScience.
In January 2012, Celgene and Avila Therapeutics, Inc., a privately held biotechnology company developing targeted covalent drugs that treat diseases through protein silencing, announced a definitive merger agreement under which Celgene Corporation will acquire Avila Therapeutics, Inc. Under the terms of the merger agreement, Celgene will acquire Avila Therapeutics, Inc. for $350 million in cash, plus up to $195 million for milestones contingent upon the development and regulatory approval of AVL-292, as well as up to $380 million in potential milestone payments contingent upon the development and approval of candidates generated from the Avilomics platform.[dead link]
Citing a market capitalization of US$67 billion, and stock appreciation of 107%, Celgene was Forbes Magazine's number 2 ranked drug company of 2013.
In 2014, Celgene and OncoMed Pharmaceuticals entered into a cancer stem cell therapeutic development agreement encompassing demcizumab and five other biologics from OncoMed's pipeline. Also in 2014, Sutro Biopharma entered into a strategic collaboration and option agreement with Celgene Corporation to discover and develop multispecific antibodies and antibody drug conjugates (ADCs). This new agreement follows the December 2012 collaboration between the two companies and focuses on the field of immuno-oncology.
In April 2015, Celgene announced it would commence a collaboration with Astrazeneca, worth $450 million, studying their Phase III immuno-oncology drug candidate MEDI4736. Later in the same month Celgene announced it would acquire Quanticel for up to $485 million aimed at enhancing their cancer drug pipeline through Quanticels epigenetic modifier targeting applications. In June 2015, Celgene announced it had licensed Lyceras RORgamma agonist portfolio for up to $105 million and continue to develop its Phase I lead compound LYC-30937 for the treatment of inflammatory bowel disease. The licensing opportunity gives Celgene the option to acquire Lycera. In July 2015, the company announced it would acquire Receptos for $7.2 billion in a move to strengthen the company's inflammation and immunology areas. News of the deal sent Celgene shares up 5.7% in after hours trading.
In May 2016, the company announced it would launch partnership with Agios Pharmaceuticals, developing metabolic immuno-oncology therapies. The deal could net more than $1 billion for Agios. In October, the company acquired EngMab AG for $600 million.
In January 2017, the company announced it would acquire Delinia for $775 million, increasing the company's autoimmune disease therapy offerings.
In January 2018, Celgene announced it would acquire Impact Biomedicines for $7 billion, adding fedratinib, a kinase inhibitor with potential to treat myelofibrosis. In the same month the company announced it would acquire Juno Therapeutics for $9 billion.
In early January 2019, the company announced it would be acquired by Bristol-Myers Squibb for $74 billion ($95 billion including debt), in a deal that would become the largest pharmaceutical-company acquisition ever. Under the terms of the deal, Celgene shareholders would receive one BMY share as well as $50 in cash for each Celgene share held, valuing Celgene at $102.43 a share; representing a 54% premium to the previous days closing price. The activist investor Starboard Value LP opposed the deal, nominating five alternative potential directors on the Bristol-Myers board. The deal was approved by shareholders in April 2019 with 75% of shareholders voting in favor of the deal, 24% voting against and less than 1% abstaining.
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
In March 2016, Bob Hugin, the company's long serving CEO, retired from his position and took the role of executive chairman. Bob Hugin was succeeded in the CEO role by Mark Alles. At the same time, Jacqualyn Fouse was named as the company's president and COO; Fouse had joined the company in 2010 as the CFO. Effective June 30, 2017, Dr. Fouse will purportedly step down and be succeeded by Scott Smith, president of the company's Global Inflammation & Immunology Franchise, who joined the company in 2008. Dr. Fouse has been voted out by the board of directors on 2 April 2018.
For the fiscal year 2017, Celgene reported earnings of US$2.539 billion, with an annual revenue of US$13.003 billion, an increase of 15.8% over the previous fiscal cycle. Celgene's shares traded at over $74 per share, and its market capitalization was valued at over US$51.8 billion in November 2018.
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|Brand Name||Drug Name(s)||Indication||Date Approved (USA)||Partner|
|Alkeran||melphalan||palliative treatment of multiple myeloma and for the palliation of non-resectable epithelial carcinoma of the ovary||01-17-1964||GlaxoSmithKline|
|Alkeran||melphalan hydrochloride||the palliative treatment of patients with multiple myeloma for whom oral therapy is not appropriate||11-18-1992||GlaxoSmithKline|
|Thalomid||thalidomide||acute treatment of the cutaneous manifestations of moderate to severe erythema nodosum leprosum (ENL) and maintenance therapy for prevention and suppression of the cutaneous manifestations of ENL recurrences||07-16-1998|
|Thalomid||thalidomide||(in combination with dexamethasone) treatment of patients with newly diagnosed multiple myeloma||05-25-2006||GlaxoSmithKline|
|Focalin||dexmethylphenidate hydrochloride CII||attention deficit hyperactivity disorder (ADHD) in children and adolescents||11-13-2001||Novartis|
|Focalin XR||dexmethylphenidate hydrochloride CII||attention deficit hyperactivity disorder (ADHD) in children, adolescents and adults||05-26-2005||Novartis|
|Vidaza||azacitidine||treatment of patients with refractory anemia, chronic myelomonocytic leukemia||05-19-2004|
|Revlimid||lenalidomide||transfusion dependent anemia due to low or intermediate-1 risk myelodysplastic syndromes associated with a deletion 5 q cytogenetic abnormality with or without additional cytogenetic abnormalities||12-27-2005|
|Revlimid||lenalidomide||(in combination with dexamethasone) treatment of multiple myeloma patients who have received at least one prior therapy||06-29-2006|
In July 1998, Celgene received approval from the FDA to market Thalomid for the acute treatment of the cutaneous manifestations of moderate to severe ENL.
In April 2000, Celgene reached an agreement with Novartis Pharma AG to license d-MPH, Celgene's chirally pure version of RITALIN. The FDA subsequently granted approval to market d-MPH, or Focalin, in November 2001.
In December 2005, Celgene received approval from the FDA to market Revlimid for the treatment of patients with transfusion-dependent anemia due to Low- or Intermediate-1-risk MDS associated with a deletion 5q cytogenetic abnormality with or without additional cytogenetic abnormalities.Focalin XR was later launched by Celgene and Novartis in 2005.
In May 2006, Celgene received approval for Thalomid in combination with dexamethasone for the treatment of patients with newly diagnosed multiple myeloma.
In June 2007, Celgene received full marketing authorization for Revlimid in combination with dexamethasone as a treatment for patients with multiple myeloma who have received at least one prior therapy by the European Commission.
In 2009, Dr. Reddy's Laboratories requested, and Celgene refused to provide, a samples of Celgene's anticancer drug THALOMID (thalidomide). Dr. Reddy's Laboratories sought the material for bioequivalency studies required to bring its own, generic, version of thalidomide to market. In response to the refusal, Dr. Reddy's Laboratories filed a Citizen's Petition with the FDA asking the Agency to adopt procedures that would ensure generic applicants the right to buy sufficient samples to perform bioequivalence testing of drugs that were subject to REMS distribution restrictions.
Celgene denied that it had behaved anticompetitively, arguing that the legislative history strongly suggested that Congress considered and rejected a proposed guaranteed access procedure like the one proposed by Dr. Reddy's. Celgene further argued that requiring innovator companies to sell their products to potential generic competitors would violate its intellectual property rights and subject it to liability risks in the event that patients were harmed in Dr. Reddy's studies.
In 2018, Celgene was at the top of a list of companies that the FDA identified as refusing to release samples to competitors to create generics.
Generic manufacturer Lannett Company initiated antitrust litigation that accused Celgene of using its REMS for THALOMID (thalidomide) to violate the anti-monopolization provisions of the Sherman Act. In early 2011, the district court denied Celgene's motion to dismiss. The case was set for trial beginning in February 2012, but the parties settled before the trial began, thereby postponing further judicial review of antitrust claims premised on alleged abuse of REMS distribution restrictions.
In July 2017, Celgene agreed to pay $280 million to government agencies to settle allegations that it caused the submission of false claims or fraudulent claims for non-reimbursable uses of its drugs Revlimid and Thalomid to Medicare and state Medicaid programs. In its July 2017 10-Q, Celgene disclosed that it resolved the matter in full for $315 million, including fees and expenses. The case was brought under the False Claims Act by Beverly Brown, a former Celgene sales representative.