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news.Celgene and Pharmion have reported that Pharmion's shareholders approved the acquisition of Pharmion by Celgene. The companies anticipate the closing of the acquisition will occur on March 7, 2008.
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The transaction will bring together three medically meaningful therapies, Revlimid, Thalomid and Vidaza, 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.
Sol Barer, chairman and CEO of Celgene, said: “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.”