Celgene Corp will sell its psoriasis drug Otezla for $13.4 billion in cash to Am...
FILE PHOTO: An Amgen sign is seen at the company's office in South San Francisco, California in this October 21, 2013 . REUTERS/Robert Galbraith
Bristol-Myers said on Monday it expects the deal to close by 2019 end. The company in June offered to sell Otezla to allay concerns raised by U.S. antitrust regulators, with an analyst valuing a deal for the drug at about $9 billion at the time. The deal for Otezla and certain related assets and liabilities is valued at $11.2 billion, net of the present value of $2.2 billion in future cash tax benefits.
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Amgen to buy Celgene's Otezla for $13.4 billionShares of Amgen Inc. fell 1.0% in premarket trading Monday after the biotechnology company said it agreed to buy Celgene Corp.'s psoriasis treatment Otezla for $13.4 billion in cash. Bristol-Myers Squibb Co. said the previously announced decision to Otezla was part of the regulatory approval process for the pending acquisition of Celgene. Shares of Celgene surged 3.7% in premarket trading and Bristol-Myers Squibb Co. shot up 5.2%. Amgen said the deal will immediately add to adjusted earnings per share, and will not interrupt the deployment of its capital allocation priorities. "The acquisition of Otezla offers a unique opportunity for Amgen to provide patients an innovative oral therapy for psoriasis and psoriatic arthritis that fits squarely within our portfolio and complements our Enbrel(R) and AMGEVITA(R) brands," said Amgen Chief Executive Robert Bradway. Amgen's stock has gained 2.3% year to date while the Dow Jones Industrial Average rallied 9.9%.
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Amgen to Buy Psoriasis Treatment Otezla for $13.4 Billion in CashAmgen said Monday it had agreed to buy the psoriasis treatment Otezla from Celgene for $13.4 billion in cash in a deal that will pave the way for Bristol-Myers Squibb to complete its acquisition of Celgene.
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Amgen to buy Celgene's Otezla for $13.4 billionShares of Amgen Inc. fell 1.0% in premarket trading Monday after the biotechnology company said it agreed to buy Celgene Corp.'s psoriasis treatment Otezla for $13.4 billion in cash. Bristol-Myers Squibb Co. said the previously announced decision to Otezla was part of the regulatory approval process for the pending acquisition of Celgene. Shares of Celgene surged 3.7% in premarket trading and Bristol-Myers Squibb Co. shot up 5.2%. Amgen said the deal will immediately add to adjusted earnings per share, and will not interrupt the deployment of its capital allocation priorities. "The acquisition of Otezla offers a unique opportunity for Amgen to provide patients an innovative oral therapy for psoriasis and psoriatic arthritis that fits squarely within our portfolio and complements our Enbrel(R) and AMGEVITA(R) brands," said Amgen Chief Executive Robert Bradway. Amgen's stock has gained 2.3% year to date while the Dow Jones Industrial Average rallied 9.9%.
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Amgen to Buy Psoriasis Treatment Otezla for $13.4 Billion in CashAmgen said Monday it had agreed to buy the psoriasis treatment Otezla from Celgene for $13.4 billion in cash in a deal that will pave the way for Bristol-Myers Squibb to complete its acquisition of Celgene.
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Previously Asking $1 Billion, Los Angeles’ Largest Parcel Sells For $100,000 After Dramatic Last-Minute TwistAfter asking $1 billion and a fair bit of legal wrangling, the largest parcel for sale in L.A. sells for $100,000.
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Teens who use concentrated marijuana more likely to use other drugsTeens who used a concentrated form of marijuana — sometimes called dabs, wax, shatter or crumble — are more likely to also use other drugs than kids who avoid marijuana, a new study suggests.
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