Celgene announces pricing of senior unsecured notes

Celgene Corporation (NASDAQ: CELG) today announced the successful pricing of three series of senior unsecured notes for an aggregate principal amount of $1.25 billion. Of these notes, $500 million will mature in October 2015 and will bear interest at an annual rate of 2.45%, $500 million will mature in October 2020 and will bear interest at an annual rate of 3.95%, and $250 million will mature in October 2040 and will bear interest at an annual rate of 5.70%. The 2.45% notes due October 2015, the 3.95% notes due October 2020, and the 5.70% notes due October 2040 were priced to yield 2.481%, 3.981%, and 5.713%, respectively.

Celgene expects to use the net proceeds from the offering for general corporate purposes, which may include, without limitation, further development of Celgene's clinical and preclinical programs, expansion of Celgene's international operations, capital expenditures, strategic transactions and to meet working capital needs. The offering is expected to close on October 7, 2010.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. Incorporated are acting as joint book-running managers. A copy of the prospectus supplement and the accompanying base prospectus, which is filed as part of Celgene's effective shelf registration statement on Form S-3 (File No. 333-169731), may be obtained from any of the joint book-running managers.

An electronic copy of the prospectus supplement and the accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at www.sec.gov.

The notes are being offered pursuant to an effective registration statement on Form S-3 (File No. 333-169731) that Celgene previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such jurisdiction. The offering of the notes will be made only by means of a prospectus supplement and the accompanying base prospectus, which is filed as part of Celgene's effective shelf registration statement on Form S-3 (File No. 333-169731).