Amgen Agreement with Celgene for Otezla®
In the News
Amgen (AMGN) entered into an agreement with Celgene (CELG) to acquire worldwide rights to Otezla® (apremilast), the only oral, non-biologic treatment for psoriasis and psoriatic arthritis, and certain related assets and liabilities for $13.4 billion in cash.
Amgen cited the benefits of this agreement as follows:
- A strong fit with Amgen’s long-standing expertise in inflammation and psoriasis.
- A differential oral therapy complementary to Amgen’s existing inflammation franchise of innovative biologics and biosimilar products.
- At least two double-digit Otezla sales growth over the next five years at least.
- Near- and long-term revenue growth.
- Intellectual property exclusivity through at least 2028 in the U.S.
- Support of increased R&D investment in 2020 to advance Amgen’s innovative pipeline of first- in-class molecules.
- No interruption in the development of Amgen’s capital allocation priorities.