Is Celgene Brilliant or Downright Crazy?

Celgene (NASDAQ:CELG) is on a spending spree that is reshaping its future, but investors are right to question whether or not the company's decision to fork over more than $8 billion in the past month is savvy or crazy. Perhaps it's a little bit of both.

A big bet on curing cancer Last month, Celgene swapped out its collaboration on chimeric antigen receptor T-cell, or CAR-T, cancer therapies with bluebird bio for a new $1 billion CAR-T collaboration with Juno Therapeutics (NASDAQ:JUNO) that includes a 10% equity investment.

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