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Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug

Credit: REUTERS/REGIS DUVIGNAU

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.

Adds company comment, background

WASHINGTON, Nov 15 (Reuters) - Bristol-Myers Squibb Co BMY.N and Celgene Corp CELG.O 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.

Bristol-Myers Squibb said in a statement Friday that the approval meant it had all the needed regulatory approvals and would close the acquisition on Wednesday.

Amgen has agreed to buy Celgene's Otezla business, the company said in a statement. The Otezla sale was valued at $13.4 billion.

Bristol-Myers said in January that it would buy Celgene for about $74 billion, combining two of the world's largest cancer drug businesses.

(Reporting by Diane Bartz; Editing by Sandra Maler and Tom Brown)

((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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