LONDON (ShareCast) - (ShareCast News) - Juno Therapeutics was set to surge at the open on Monday after agreeing for Celgene to buy the shares in the biopharmaceutical group it does not already own for around $9bn in cash.
Under the terms of the deal, which is expected to be dilutive to adjusted earnings per share in 2018 by around $0.50 and incrementally additive to net product sales in 2020, Celgene will pay $87 per share in cash. Celgene plans to fund the acquisition through a combination of existing cash and new debt.

Juno Therapeutics is an integrated biopharmaceutical company focused on developing innovative cellular immunotherapies for the treatment of cancer. It's a pioneer in the development of chimeric antigen receptor T, which uses the patient's own immune system to fight cancer.

Celgene chief executive Mark J Alles said: "The acquisition of Juno builds on our shared vision to discover and develop transformative medicines for patients with incurable blood cancers. Juno's advanced cellular immunotherapy portfolio and research capabilities strengthen Celgene's global leadership in haematology and adds new drivers for growth beyond 2020.

"The people at Juno channel their passion for science and patients towards a common goal of finding cures by creating cell therapies that help people live longer, better lives," said Hans Bishop, Juno's president and chief executive officer. "Continuing this work will take scientific prowess, manufacturing excellence and global reach. This union will provide all three."

Celgene already owns approximately a stake of around 9.7% in Juno.

At 1240 GMT, Juno shares were up 27% in pre-market trade to $86.32.

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