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Amgen Completes Acquisition Of Otezla® (apremilast)
THOUSAND OAKS, Calif., Nov. 21, 2019 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced the successful completion of its acquisition of worldwide rights to
About this update from Amgen Inc.
[{"type":"text","content":"THOUSAND OAKS, Calif., Nov. 21, 2019 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced the successful completion of its acquisition of worldwide rights to Otezla® (apremilast), the only oral, non-biologic treatment for moderate-to-severe plaque psoriasis and psoriatic arthritis. Otezla was acquired from Celgene Corporation (NASDAQ:CELG) in connection with its previously announced merger with Bristol-Myers Squibb Company (NYSE:BMY), which was completed on Nov. 20.\nOtezla is an important treatment in the post-topical, pre-biologic segment in its approved indications in the U.S., including the treatment of patients with moderate-to-severe plaque psoriasis who are candidates for phototherapy or systemic therapy; adult patients with active psoriatic arthritis; and adult patients with oral ulcers associated with Behçet's Disease.\nOtezla is approved in more than 50 markets outside the U.S., including the European Union and Japan.\n\"As the prevalence of chronic inflammatory diseases increases worldwide, Otezla represents a unique opportunity to further Amgen's mission of bringing innovative medicines to patients, while building on our long-standing expertise in inflammation,\" said Robert A. Bradway, chairman and chief executive officer at Amgen. \"We look forward to working with the dedicated professionals joining us from Celgene to help realize the global potential of Otezla as an important option for patients.\"\nThe closing of the Otezla acquisition offers Amgen many potential benefits including:\nA strong strategic fit with Amgen's long-standing expertise in moderate-to-severe plaque psoriasis and active psoriatic arthritis. A differentiated, oral therapy complementary to Amgen's existing inflammation franchise of innovative biologics and biosimilar products. At least low double-digit percentage Otezla sales growth, on average, anticipated over the next five years. Expected acceleration of Amgen's near- and long-term revenue growth. Worldwide rights which fit well with Amgen's international presence and global expansion objectives.\"This move also provides Amgen with an important strategic product offering new opportunities for growth and serving patients,\" Bradway said.\nTerms of the Acquisition and 2019 GuidanceOtezla, along with certain related assets and liabilities, was acquired for $13.4 billion in cash, or approximatel...