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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	7/6/2017 9:40:11 AM
	of 8334

Celgene to buy BeiGene stake, jointly develop tumor cancer treatment Celgene (NASDAQ: CELG) agrees to acquire a stake in biopharma peer BeiGene (NASDAQ: BGNE) and help develop and commercialize BGNE's investigational treatment for tumor cancers. CELG will buy 32.7M, or 5.9%, of BGNE's shares at $4.58 each, or $59.55 per ADS; BGNE will receive $263M in upfront license fees and be eligible to receive up to $980M in development, regulatory and sales milestone payments and royalties on future sales of the tumor cancer treatment. BGNE also will acquire CELG’s operations in China, and will license and assume commercial responsibility for CELG’s approved therapies in the country. BGNE says its BGB-A317 advanced clinical-stage investigational tumor cancer treatment has been dosed in more than 500 patients. BGNE +10.9% premarket.

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