Celgene’s myelofibrosis approval sets up key launch for BMS

FDA's approval of potential blockbuster Inrebic fedratinib from Celgene sets up a key launch for BMS in myelofibrosis, an indication for which only one other drug is marketed in the U.S.

The agency's decision also boosts the return to shareholders of Impact Biomedicines Inc., the company Celgene Corp. (NASDAQ:CELG) acquired in early 2018 to gain Inrebic's rights. Celgene paid $1.1 billion up front in a deal that included $1.25 billion in additional milestones tied to Inrebic's approval. A Celgene spokesperson told BioCentury on Friday that not all of the latter figure is tied to Friday's approval, and that the total payout includes approvals in other geographies...