Celgene Corp. announced this week that it is buying Juno Theraputics, in a deal valued near $9 billion.
The deal is one of the largest ever for Celgene, which is expected to struggle in the coming years amid rising competition against its high-selling blood cancer drug, Revlimid.
Juno is best known for its personalized cancer treatments called CAR T-cell therapies. Juno’s JCAR017 is the closest of all the treatments to receiving regulatory approval. Celgene reported that it expects global sales to hit $3 billion for the treatment.
The purchase, which is the second by Celgene this year, sends a clear message that the company plans to expand its footing in the cancer treatment space.
Read the full Bloomberg report.