Amgen to acquire Celgene’s Otezla for $13.4B

Amgen (NASDAQ:AMGN) has agreed to acquire global rights to Celgene’s (NASDAQ:CELG) psoriasis med Otezla (apremilast) for $13.4B in cash. Bristol-Myers Squibb (NYSE:BMY) is divesting the PDE4 inhibitor in order to receive regulatory sign-off on its merger with Celgene. The transaction is contingent on the FTC’s blessing on the merger, its closing and satisfaction of other closing conditions.

BMY expects the tie-up to be completed by year-end.

Otezla accounted for 11.2% of CELG’s Q2 revenues.

BMY is up 5% premarket on light volume. CELG is up a fraction.

https://seekingalpha.com/news/3494503-amgen-acquire-celgenes-otezla-13_4b