Pharmaceutical company Celgene acquired Impact

2018-02-01

Pharmaceutical company Celgene acquired Impact

When large corporations acquire small biotech startups, it means biomedical industry is growing. United States has examples of large pharmaceutical companies investing in small projects. Celgene, which acquired Impact for 7 billion dollars, is such a company.


John Hood, Executive Director at Impact, said that they were not going to sell the company at the end of last year. In addition, the team didn’t have a general consensus on weather it should be sold or not. But everything was clear after launching production of the drug for patients with myelofibrosis led by Celgene. The company will make the process faster and less risky.


John Hood has become kind of a star in biotechnology, as drug developers usually do not become managers of the business. But he was able to break the pattern: being a Head of Impact, he raised 100 million dollars of investment and managed to sell his company.

Many believe that Celgene overpaid when buying Impact. It is likely Celgene will have to make another expensive deal with other company in the future. The reason is the expiration of the patent for Revlimid, a key product of Celgene. Investors recommended buying Bluebird Bio, a company focused on gene therapy.

 

Subscribe to the news of M-Health Congress on Facebook and VK!

Innovation news

02.08.21
Development of Medical Applications. Features, Benefits, First Steps

The world is now experiencing an active development of IT sphere and, in particular, innovative...

29.07.21
Safe Healthcare Technologies During the COVID-19 Pandemic

Virtual services are actively developing in all activities. It has become a new trend in...

29.07.21
Teledentistry as an innovative segment in healthcare: Peculiarities and benefits

COVID-19 pandemic has made many adjustments to the modern world. People began to take advantage...