FTC Requires Bristol-Myers Squibb Company and Celgene Corporation to Divest Psoriasis Drug Otezla as a Condition of Acquisition

Pharmaceutical and biologic manufacturers Bristol-Myers Squibb Company, or BMS, and Celgene Corporation have agreed to divest Celgene’s Otezla, the most popular oral treatment in the United States for moderate-to-severe psoriasis, for $13.4 billion. This divestiture would settle Federal Trade Commission charges that BMS’s proposed $74 billion acquisition of Celgene would violate federal antitrust law. The proposed divestiture […]