Celgene's Otezla Sale Shows FTC Wants Merging Companies To Ditch Marketed, Not Pipeline, Products
Companies used to be able to pick which overlapping products to divest to get US Federal Trade Commission merger approval but an FTC study showed certain divestitures weren't working.
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BMS/Celgene and AbbVie/Allergan were the biggest biopharma deals by dollar value in 2019, and the third and seventh largest ever. The year saw 23 deals valued at $1bn or more, including 20 M&A agreements.
Amgen sees opportunity to grow Otezla sales through new indications and additional ex-US launches. The deal depends on Bristol closing its Celgene acquisition, pending FTC clearance.
Spark signaled in an SEC filing that its merger with Roche could be delayed into 2020, fueling more speculation that FTC is increasing scrutiny over biopharma mergers.