Bristol-Myers Squibb to Divest Celgene’s Otezla (apremilast) to Gain the US FTC’s Approval on Celgene Acquisition

Bristol-Myers Squibb to Divest Celgene’s Otezla (apremilast) to Gain the US FTC’s Approval on Celgene Acquisition

Shots:

  • BMS plans to divest Otezla to address US Federal Trade Commission concern to close pending Celgene acquisition for $74B more quickly
  • In Jan’2019, BMS announced to acquire Celgene with its expected closing of the transaction in H2’19 or H1’20. The divestiture of Otezla will accelerate BMS post-closing deleveraging plans
  • Otezla is a PDE4 inhibitor, approved to treat moderate to severe plaque psoriasis and has generated a revenue of $1.6B in 2018

Click here to read full press release/ article | Ref: BMS | Image: SPJ News