BeiGene Ltd.'s (BGNE - Get Report) American depository receipts jumped 18.7% to $62.02 in premarket trading on Thursday, July 6, following news of the Beijing firm's immuno-oncology collaboration with Celgene Corp. (CELG - Get Report) .

As part of the agreement announced late Wednesday, Celgene will acquire rights to BGB-A317, BeiGene's investigational anti-programmed cell death protein 1 (PD-1) inhibitor, in the U.S., Europe, Japan and the rest of the world outside Asia.

BeiGene will retain exclusive rights for the development and commercialization of BGB-A317 for hematological malignancies globally and for solid tumors in Asia except Japan. BeiGene will acquire Celgene's commercial operations in China and secure an exclusive license to commercialize Celgene's approved therapies in China, including Abraxane, Revlimid and Vidaza.

BeiGene will receive upfront licensing fees of $263 million. Celgene will acquire 32.7 million, or 5.9 percent, of BeiGene's ordinary shares at $4.58 apiece, or $59.55 per BeiGene's American depositary shares.

In addition, BeiGene could receive up to $980 million in development, regulatory and sales milestone payments and royalties on future sales of BGB-A317.

Celgene shares were trading at $132.20, down 0.8%.

Meanwhile, shares of Impax Laboratories Inc. (IPXL) rose 7.3% to $17.60 after the Hayward, Calif.-based firm said Wednesday it has obtained final approval from the U.S. Food and Drug Administration on its abbreviated new drug application for a generic version of Focalin XR (dexmethylphenidate hydrochloride) extended-release capsules CII, 25 and 35 mg. Impax has started commercialization efforts.

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Meanwhile, over on Real Money, Jonathan Heller writes that Monomoy Capital Partners, which is buying West Marine Inc. (WMAR) for $12.97 per share in a deal announced June 29, "is getting a heck of a bargain at that price."