CELG - Celgene Corporation

Celgene Corporation (CELG) was an American biotechnology company that focused on the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases.

In November 2019, Bristol-Myers Squibb completed its acquisition of Celgene, and Celgene is now a wholly owned subsidiary of Bristol-Myers Squibb. The acquisition significantly expands Bristol-Myers Squibb's oncology portfolio and pipeline.

As of February 25, 2023, the market capitalization of Bristol-Myers Squibb, which includes Celgene as a subsidiary, is approximately $164.7 billion.

Before the acquisition, Celgene had a number of successful products on the market, including Revlimid for multiple myeloma and other blood cancers, and Otezla for psoriasis and psoriatic arthritis. Celgene also had a strong pipeline of potential therapies in development, including treatments for blood disorders, solid tumors, and immune disorders.

Celgene was founded in 1986 and was headquartered in Summit, New Jersey. It employed over 8,000 people worldwide and had operations in more than 60 countries. The company was known for its strong commitment to research and development, investing heavily in discovering and developing new therapies. While Celgene faced some challenges, including patent expirations and regulatory hurdles, its strong portfolio of products and robust pipeline made it an attractive acquisition target for Bristol-Myers Squibb.

Overall, Celgene was a leading biotechnology company with a strong focus on developing therapies to address significant unmet medical needs. Its acquisition by Bristol-Myers Squibb has further strengthened Bristol-Myers Squibb's position as a major player in the global pharmaceutical industry.

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