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Celgene (CELG) Nabs Option to Buy Acetylon Pharmaceuticals for More Than $1.7 Billion


7/29/2013 7:33:31 AM

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In early 2012, Celgene (NASDAQ: CELG) made a seemingly innocuous investment in Acetylon Pharmaceuticals in a deal that didn’t give it any rights to the company, but rather, left it with a non-invasive observer’s seat on the Boston-based biotech’s board of directors. Apparently, Celgene liked what it saw, because it’s prepared to throw around $1.7 billion more Acetylon’s way if things break right. Acetylon has struck a deal with Summit, NJ-based Celgene that outlines a potential buyout at the hands of the big cancer drugmaker down the road.

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