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Celgene Acquires Swiss Factory for 45

Plans to use facility to expand global production.Pharmaceutical company Celgene (Nasdaq: CELG) in Summit acquired a manufacturing facility for $46.5 million cash from Siegfried, a maker of pharmaceutical products in Zofingen, Switzerland. Celgene has made an initial payment of $12.5 million on the purchase. The factory makes substances used in the production of Revlimid, Celgene’s treatment for multiple myeloma, a cancer that affects immune system cells in bone marrow. Celgene plans to use the facility to broaden its global commercial manufacturing. Shares of Celgene were up $0.95 to $56.76 in morning trading.

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