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GEN News Highlights : Dec 11, 2006

Celgene Procures API Manufacturing Plant for $46.5M

Siegfrid’s facility will produce Revlimid.

Celgene acquired an API manufacturing facility from Siegfried in a deal worth $46.5 million. Celgene will make an initial payment of $12.5 million for the assets. The manufacturing facility will initially will be used to produce Revlimid.

This API manufacturing plant has been approved by U.S. and European regulatory authorities to produce and supply drug substances for both of these markets. Siegfried will continue to collaborate with Celgene to provide chemical intermediates, quality control systems, analytical testing, and other technical support services.