By Peter Geschek:
Celgene’s (CELG) stated goal is to double its sales by 2017 and in order to achieve that, it pursues a three-way strategy: expand Revlimid, its core product, into new indications; develop new blockbusters and build its early stage pipeline through active dealmaking.
Celgene has one of the busiest partnering teams in biotechnology.
Following is a summary of acquisitions and partnering deals from the past few years. Notice that many of the commitments were made at a very early stage of the developmental work.
Agios Pharmaceuticals: In 2010, Celgene poured its first $130 million into Agios, and later it extended the deal to four years from three, for another $20 million. Celgene has the right to extend the deal again, with options to license any of the drugs developed.
Agios is working on a new class of drugs designed to starve cancer cells of key