Celgene Corporation (NASDAQ: CELG) and Pharmion Corporation
(NASDAQ: PHRM) today announced that Pharmion´s shareholders approved
the acquisition of Pharmion by Celgene. The companies anticipate the
closing of the acquisition will occur on Friday, March 7, 2008.
The transaction will bring together three medically meaningful
therapies, Revlimid(R), Thalomid(R) and Vidaza(R), treating patients
worldwide. These products are expected to generate multiple global
revenue streams for accelerated financial growth over the next five
years and beyond. Additionally, the combined company´s pipeline will
be positioned to advance promising clinical research in hematology, as
well as solid tumor cancers and inflammation.
"We are extremely excited about the benefits to patients that will
come as a result of this transaction," said Sol J. Barer, PhD,
Chairman and Chief Executive Officer of Celgene Corporation. "Bringing
together the best practices and minds of our companies will enable us
to enhance our substantial research and development capabilities as we
continuously strive to discover and develop the next improvements in
patient care. We appreciate this vote of support by Pharmion´s
shareholders."
About Celgene
Celgene Corporation, headquartered in Summit, New Jersey, is an
integrated global biopharmaceutical company engaged primarily in the
discovery, development and commercialization of novel therapies for
the treatment of cancer and inflammatory diseases through gene and
protein regulation. For more information, please visit the Company´s
website at www.celgene.com.
About Pharmion
Pharmion Corporation is a leading global oncology company focused
on acquiring, developing and commercializing innovative products for
the treatment of hematology and oncology patients in the U.S., Europe
and additional international markets. Pharmion has a number of
products on the market including the world´s first approved epigenetic
drug, Vidaza(R), a DNA demethylating agent. For additional information
about Pharmion, please visit the company´s website at
http://www.pharmion.com.
This press release contains certain forward-looking statements
which are based on current expectations and involve a number of known
and unknown risks, delays, uncertainties and other factors not under
Celgene´s or Pharmion´s control, which may cause actual results,
performance or achievements of Celgene or Pharmion to be materially
different from the results, performance or other expectations implied
by these forward-looking statements. These factors include results of
current or pending research and development activities, actions by the
FDA and other regulatory authorities, and those factors detailed in
Celgene´s or Pharmion´s filings with the Securities and Exchange
Commission such as Form 10-K, 10-Q and 8-K reports. Forward-looking
statements speak only as of the date on which they are made, and
neither Celgene nor Pharmion undertake any obligation to update
publicly or revise any forward-looking statements.
