Bristol-Myers Squibb Co. announced Monday that Summit-based Celgene Corp., in connection with its merger agreement with BMS, has entered into an accord with Amgen for that company to acquire the global rights to Otezla (apremilast).
Amgen will purchase the psoriasis drug Otezla for $13.4 billion 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.
“This agreement represents an important step toward completing our pending merger with Celgene. It also demonstrates the tremendous achievement of the Celgene team in establishing Otezla as an important medicine for patients with psoriasis, psoriatic arthritis and Behçet’s Disease,” said Dr. Giovanni Caforio, chairman and chief executive officer of Bristol-Myers Squibb. “Together with the Otezla team, Amgen has the capabilities and infrastructure to continue to support this important medicine and ensure a seamless transition for patients and health care providers.”
Bristol-Myers Squibb now expects the pending merger with Celgene to close by the end of 2019.