Amgen has announced that it has agreed to purchase worldwide rights to Otezla® (apremilast) from Celgene Corporation for US $13.4 billion. Otezla® provides an oral therapy for the treatment of psoriasis and psoriatic arthritis and is seen by Amgen as a strategic acquisition that complements its existing line of products directed at treating inflammatory conditions. In particular, Otezla® is a non-biologic medication, while Amgen’s existing Enbrel® (etanercept) is a biologic and AMGEVITA® is an adalimumab biosimilar. Both of these existing products are also marketed for the treatment of various inflammatory diseases.
This agreement follows the announcement by Britsol-Myers Squibb Company of its intent for the divestiture of Otezla® to allow for the timely completion of its merger with Celgene Corporation in light of the U.S. Federal Trade Commission’s review.
In 2018, Otezla®’s sales were $1.6 billion. Amgen’s announcement of the $13.4 billion deal cites Otezla®’s patent exclusivity through at least 2028 in the U.S., suggesting patent protection for Otezla® created greater value for the product and helped secure the significant amount of the deal.
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