Q13 News This Morning is starting early all week: Watch 4-10 a.m.
Viaduct Closure: Check our LIVE traffic map here

Juno Therapeutics sells the rest of its stock to Celgene in $9B deal

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

SUMMIT, N.J. (AP) — Biopharmaceutical company Celgene is buying the remainder of Juno Therapeutics Inc. that it doesn’t already own in a deal valued at about $9 billion, which will help it develop medicines for patients with incurable blood cancers.

Juno shareholders will receive $87 per share. The Seattle company’s stock soared nearly 27 percent Monday less than three hours before the opening bell.

Celgene Corp., which is based in Summit, New Jersey, had owned almost 10 percent of Juno’s outstanding stock.

The deal, which was approved by the boards of both companies, is expected to close in the first quarter.