Biotech Values

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Amgen to acquire Otezla from Celgene for $13.4B in cash

Bristol-Myers: Amgen to acquire global rights to OTEZLA from Celgene for $13.4B Bristol-Myers (BMY) announced that Celgene (CELG), in connection with its merger agreement with Bristol-Myers Squibb, has entered into an agreement with Amgen (AMGN) under which Amgen would acquire the global rights to OTEZLA for $13.4B in cash. Bristol-Myers Squibb previously announced the decision to divest OTEZLA in connection with the ongoing regulatory approval process for the company's pending merger with Celgene. The closing of the acquisition covered by the agreement with Amgen is contingent on Bristol-Myers Squibb and Celgene entering into a consent decree with the Federal Trade Commission in connection with their pending merger, the closing of the pending merger, and the satisfaction of other customary closing conditions. Bristol-Myers Squibb now expects the pending merger with Celgene to close by the end of 2019.

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