Celgene
Celgene Corporation, headquartered in Summit, New Jersey, was a pharmaceutical company that produced cancer and immunology drugs. Its primary products were Revlimid, which is used in the treatment of multiple myeloma ; Pomalyst and Imnovid, also used in the treatment of multiple myeloma ; and Otezla, used in the treatment of psoriasis. In 2018, 66% of the company's revenues came from the United States. In 2019, the company was acquired by Bristol Myers Squibb ; as part of the acquisition, Otezla was sold to Amgen.
History
Celgene was originally a unit of Celanese. In 1986, Celanese completed the corporate spin-off of Celgene following the merger of Celanese with American Hoechst.In August 2000, Celgene acquired Signal Pharmaceuticals, Inc., a privately held company that developed pharmaceuticals to regulate disease-related genes. Signal Pharmaceuticals was rebranded as Celgene Research San Diego.
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 was rebranded as Celgene Cellular Therapeutics.
In 2006, Celgene certified McKesson Specialty, a specialty pharmacy, as one of a group of pharmacies contracted to launch lenalidomide. As a specialty drug, lenalidomide is only available through the a distribution network consisting of specialty pharmacies contracted by the company.
In March 2008, Celgene acquired Pharmion Corporation for $2.9 billion.
In January 2010, Celgene acquired Gloucester Pharmaceuticals.
In June 2010, Celgene agreed to acquire Abraxis BioScience for $2.9 billion, which produced Abraxane, for the treatment of cancer.
In November 2011, Celgene relocated its United Kingdom headquarters from Windsor, Berkshire, to Stockley Park, near Heathrow airport which is also the home of GlaxoSmithKline's UK operations.
In January 2012, Celgene agreed to acquire Avila Therapeutics, a privately held biotechnology company for $925 million, with $350 million in cash.
In December 2013, Celgene and OncoMed joined a cancer Stem cell therapy development agreement with demcizumab and five other biologics from OncoMed's pipeline.
In October 2014, Sutro Biopharma entered into an agreement with Celgene Corporation to discover and develop multispecific antibodies and antibody drug conjugates. This followed the December 2012 collaboration between the two companies and focused on the field of immuno-oncology.
In April 2015, Celgene announced a collaboration with AstraZeneca, worth $450 million, to study their Phase III immuno-oncology drug candidate MEDI4736.
That same month, Celgene exercised its option to acquire Quanticel for up to $485 million to enhance its cancer drug pipeline. Celgene had invested in Quanticel in April 2011.
In June 2015, Celgene exercised its option to license Lyceras RORgamma agonist portfolio for up to $105 million to develop its Phase I lead compound LYC-30937 for the treatment of inflammatory bowel disease. The licensing opportunity gave 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.
In May 2016, the company announced it would launch partnership with Agios Pharmaceuticals, developing metabolic immuno-oncology therapies.
In October 2016, the company acquired EngMab AG for $600 million.
In January 2017, the company announced it would acquire Delinia for up to $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 March 2018, the company acquired Juno Therapeutics for $9 billion. That month, the company paid $101 million to partner with Vividion on the discovery of small molecules that hit hard-to-drug proteins.
In January 2019, the company committed to pay up to $980 million to license TRPH-395, a small molecule that targets protein-protein interactions and epigenetic regulation in leukemia and lymphoma.
In March 2019, the company partnered with Exscientia on three of its drug programs targeting oncology and autoimmunity.
In November 2019, Bristol-Myers Squibb acquired the company for $74 billion in the largest pharmaceutical acquisition to date. As part of the acquisition, Amgen acquired the Otezla drug program from Celgene for $13.4 billion. Activist investor Starboard Value opposed the deal, nominating five alternative potential directors on the Bristol-Myers board; however, it retracted its opposition after Institutional Shareholder Services and Glass Lewis supported the transaction and it appeared to have enough shareholder support.
Company origin and acquisition history
The following is an illustration of the company's major mergers and acquisitions and historical predecessors :- Celgene
- * Signal Pharmaceuticals, Inc
- * Anthrogenesis
- * Pharmion Corporation
- * Gloucester Pharmaceuticals
- * Abraxis BioScience Inc
- * Avila Therapeutics, Inc
- * Quanticel
- * Receptos
- * EngMab AG
- * Delinia
- * Impact Biomedicines
- * Juno Therapeutics
- ** AbVitro
- ** RedoxTherapies
Management history
Finances
For the fiscal year 2017, Celgene reported earnings of US$2.539 billion, with an annual revenue of US$13.003 billion, an increase of 15.8% over the previous fiscal cycle.| Year | Revenue in mil. USD$ | Net income in mil. USD$ | Total Assets in mil. USD$ | Employees |
| 2005 | 537 | 64 | 1,258 | |
| 2006 | 899 | 69 | 2,736 | |
| 2007 | 1,406 | 226 | 3,611 | |
| 2008 | 2,255 | −1,534 | 4,445 | |
| 2009 | 2,690 | 777 | 5,389 | |
| 2010 | 3,626 | 881 | 10,177 | |
| 2011 | 4,842 | 1,318 | 10,006 | |
| 2012 | 5,507 | 1,456 | 11,734 | |
| 2013 | 6,494 | 1,450 | 13,378 | 5.100 |
| 2014 | 7,670 | 2,000 | 17,340 | 6,012 |
| 2015 | 9,256 | 1,602 | 26,964 | 6,971 |
| 2016 | 11,229 | 1,999 | 28,086 | 7,132 |
| 2017 | 13,003 | 2,940 | 30,141 | 7,467 |
Products
Major products included Revlimid and Pomalyst and the immunology drug Otezla.| Brand Name | Drug Name | Indication | Date Approved | 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 and maintenance therapy for prevention and suppression of the cutaneous manifestations of ENL recurrences | 07-16-1998 | |
| Thalomid | thalidomide | treatment of patients with newly diagnosed multiple myeloma | 05-25-2006 | GlaxoSmithKline |
| - | - | - | - | |
| Focalin | dexmethylphenidate hydrochloride CII | attention deficit hyperactivity disorder in children and adolescents | 11-13-2001 | Novartis |
| Focalin XR | dexmethylphenidate hydrochloride CII | attention deficit hyperactivity disorder 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 | treatment of multiple myeloma patients who have received at least one prior therapy | 06-29-2006 |
Product-related history
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.