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Reuters BusinessNov 15, 2019
Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug
Bristol-Myers Squibb Co and Celgene Corp have won U.S. antitrust approval for their merger on condition that they sell Celgene's psoriasis drug Otezla, the Federal Trade Commission said in a statement on Friday.

RELATED ARTICLES
UPDATE 1-Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug (Yahoo Business)

MarketWatch MarketPulseNov 15, 2019
FTC makes Celgene's Otezla divestiture official condition for Bristol-Myers acquisition
Celgene Corp. is required to divest its most popular psoriasis treatment in order to be acquired by Bristol-Myers Squibb Co. , the Federal Trade Commission announced Friday. For Bristol-Myers to close on its $74 billion acquisition, Celgene will have to sell its drug Otezla for $13.4 billion to Amgen Inc. , the FTC said. "The Commission has ordered BMS to divest Otezla to preserve BMS's incentive to continue developing its own oral product for treating moderate-to-severe psoriasis," said FTC Chairman Joseph Simons in a statement. "The antitrust laws protect not only competition today, but competition in the future, especially when it comes to the development of new treatments for chronic conditions." The companies already anticipated the FTC's concerns and agreed to the deal back in August.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatchNov 15, 2019
Economic Report: U.S. industrial output falls by most in 17 months in October
Industrial output fell 0.8% in October, pushed lower by the GM strike, the Federal Reserve reported Friday.
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