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Celgene has announced that it has chosen not to scoop up Sutro Biopharma, rejecting to take advantage of an option outlined in its $1 billion partnership struck in 2014 which would allow it to acquire the US biotech. Instead, the firm has opted to rework the pair’s existing licensing deal, shifting focus onto four drugs entering clinical trials.
Celgene already owns 15% of Sutro and will still be able to purchase shares in addition to this, but will no longer have the option to buy up the company.NEXT ARTICLE
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Commercial and market reports on mergers and acquisitions in the biotechnology, pharmaceutical, medical device and life-science industries. Mergers and acquisitions (abbreviated M&A;) is an aspect of corporate strategy, corporate finance and manageme...
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