Investment news

Celgene Corp. Chief Executive Officer Robert J. Hugin said his partnerships with companies in the early stages of drug development are bearing fruit, yielding more than half of eight new compounds the company aims to put into human testing over the next 18 months.

Biotech ETFs have recently shown vulnerability. For example, the iShares Nasdaq Biotechnology ETF (IBB) , the largest biotech ETF by assets, fell nearly 4% last week on its way to shedding nearly $200 million in assets and there is talk that IBB is forming a bearish head and shoulders chart pattern. [How to Deal With Biotech ETF Trouble]

BIO Investor Forum to be held October 20-21 in San Francisco, California The Biotechnology Industry Organization (BIO) has opened registration for the 14th Annual BIO Investor Forum, the international biotech investor conference focused on investment strategies for early stage and established private companies as well as emerging public companies. The event will take place October 20-21, 2015, at the Parc 55 Hotel in San Francisco.

When Celgene Corp. agreed to buy Receptos Inc. for $7.2 billion this month, both companies soared on the news. Little did investors know that Celgene had a Receptos deal in its grasp in 2013, when the drugmaker was trading for an eighth of the final price.

Sanofi agreed to contribute $2.2 billion to work with Regeneron Pharmaceuticals Inc. on therapies that harness the immune system to fight cancer. Sanofi will give Regeneron an upfront payment of $640 million to work on at least four experimental treatments, including one that has entered early-stage trials. Regeneron will get an additional $375 million from Sanofi if it meets certain sales goals. Sanofi will also invest $1.15 billion in the research, while Regeneron will add $485 million.

Johnson & Johnson beat first-quarter profit estimates as sales of arthritis and psoriasis drugs helped the pharmaceutical unit expand, excluding the effects of a stronger dollar that has cut into international revenue.

Celgene Corp.’s $7.2 billion agreement to buy drugmaker Receptos Inc. is the deal it’s been waiting for. Celgene’s all-cash offer for the startup, announced Tuesday, moves beyond its typical strategy of striking partnerships with other biotechnology companies, many of which are focused on early-stage experimental therapies. The Summit, New Jersey-based company signed more licensing deals last year than any other biotech drugmaker -- 10 in all, according to data compiled by Bloomberg Intelligence.

Immunocore Ltd., which this week achieved the biggest private fundraising by a European biotechnology firm in 10 years, plans to accelerate development of its cancer therapy using the money and seek expedited approval.