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Covington Advises Merrill Lynch on Celgene’s $2.9 Billion Acquisition of Pharmion


NEW YORK, NY, November 19, 2007 — Celgene Corporation and Pharmion Corporation announced the signing of a definitive merger agreement under which Celgene will acquire Pharmion for approximately $2.9 billion. Covington & Burling LLP advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, financial advisor to Celgene, on the transaction, which is expected to close by the end of the second quarter of 2008.

Celgene is a multinational integrated biopharmaceutical company engaged in the discovery, development and commercialization of innovative therapies designed to treat cancer and immunological diseases through regulation of genomic and proteomic targets. Pharmion is a leading global oncology company focused on acquiring, developing and commercializing innovative products for the treatment of hematology and oncology patients in the United States, Europe, and additional international markets. Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 38 countries and territories and total client assets of approximately $1.7 trillion.

The Covington corporate team, based in New York, included partner Jack Bodner and associate Andrew Ment.

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