Celgene deal for Pharmion a strategic fit: analysts

Celgene Corp's $2.9 billion acquisition of Pharmion Corp would add products that fit snugly into its therapeutic focus on cancer and blood disorders, analysts said on Monday.

Celgene shares fell 90 cents, or 1.4 percent, to $64 in early premarket trading, possibly reflecting the deal price that some analysts called steep.

But the purchase, announced on Sunday, generally received praise from analysts for making strong strategic sense.

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- Posted: 2007-11-19 10:14:36

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