CELGENE CORP /DE/ - 10-Q filing on 2015-04-30

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In April 2015, we entered into a strategic collaboration agreement with MedImmune Limited (MedImmune), a subsidiary of AstraZeneca PLC, to develop and commercialize MEDI4736, a novel anti-PD-L1 monoclonal antibody, for hematologic malignancies. The agreement provides for a negotiation period to expand the agreement for other immuno-therapeutics. Under the terms of the agreement, we will make an upfront payment of $450 million to MedImmune. We will lead clinical development across all new clinical trials within the collaboration and will be responsible for all costs associated with such trials until December 31, 2016, after which we will be responsible for 75 percent of those costs. We also will be responsible for the global commercialization of approved MEDI4736 indications in hematology, and will receive royalty rates starting at 70 percent of worldwide sales from all uses in hematology. Royalty rates will decrease gradually to 50 percent over a period of four years after the start of commercial sales. In April 2015, we entered into a definitive share purchase agreement under which we would acquire Quanticel Pharmaceuticals, Inc. (Quanticel), a privately held biotechnology company focused on cancer drug discovery, for consideration consisting of $100 million in cash at closing plus contingent consideration consisting of payments for achieving specified discovery and development targets of up to $385 million. Celgene has had a research collaboration arrangement with Quanticel since 2011. Through this purchase, Quanticel will become our wholly-owned subsidiary, and we will gain full access to Quanticel’s proprietary platform for the single-cell genomic analysis of human cancer, as well as Quanticel’s lead programs that target specific epigenetic modifiers to advance Celgene’s pipeline of innovative cancer therapies. The purchase is subject to customary closing conditions, including regulatory approvals and the approval of Quanticel's shareholders, and is expected to close in the second half of 2015.