Amgen buying Celgene’s Otezla in $13B deal


Amgen will buy the psoriasis and arthritis drug Otezla from Celgene for $13.4B in a rare instance of an approved blockbuster drug changing hands. The drug will complement Amgen’s aging top-seller Enbrel.


The Federal Trade Commission required Otezla’s sale as a condition for Bristol-Myers Squibb to acquire Celgene, raising antitrust concerns over BMS owning the drug. Wall Street analysts had predicted the drug would fetch a lower price, between $5B and $10B. Last year, Celgene earned $1.6B in global sales of Otezla.


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