Celgene is reportedly in talks to buy Juno Therapeutics

  • Celgene is in talks to buy biotechnology company Juno Therapeutics, which specializes in drugs that treat blood cancer.
  • Juno shares soared 50 percent in premarket on the report.
  • The news comes less than a week after the biotech giant announced it would buy Impact Biomedicines for $7 billion.
  • Terms of the possible deal have not been revealed.
Celgene
Kristoffer Tripplaar | AP
Celgene

Celgene is in talks to buy biotechnology company Juno Therapeutics, The Wall Street Journal reported.

Shares of Juno soared 50 percent in premarket trading Wednesday on the report.

The news comes less than a week after the biotech giant announced it would buy Impact Biomedicines for $7 billion. Both Impact and Juno offer drugs that could boost Celgene in the market for blood-cancer treatment.

Celgene has been fighting to diversify its portfolio before its best-selling blood-cancer drug, Revlimid, loses patent protection, the Journal reported.

Jefferies analysts called the potential acquisition "smart," because "the buyout would enable Celgene to integrate Juno's entire cell therapy platform and bring it all in house."

Celgene has had an estimated $500 million stake in Juno since September 2017, according to a report from Jefferies.

Talks could lead to a deal in the coming weeks, sources familiar with the matter told The Wall Street Journal. Terms of a possible deal were not revealed.

Shares of Juno Therapeutics soared more than 34 percent on the news.

Representatives from Juno Therapeutics declined to comment to CNBC. Celgene did not respond to CNBC's requests for comment.

Read more about the possible deal between Celgene and Juno Therapeutics from The Wall Street Journal.

WATCH: Celgene to buy Impact Biomedicines in $7 billion deal