With Celgene's $13.4B sale of Otezla, Amgen adds to anti-inflammatory franchise

Investors appeared to be more than satisfied with Celgene's take from the sale of Otezla to Amgen for $13.4 billion in cash, removing a hurdle from BMS's path toward the completion of its proposed $74 billion acquisition of Celgene.

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) rose about 3%, adding $2.5 billion to its market cap Monday. The pharma said in June that following discussions with the Federal Trade Commission, it would divest Otezla apremilast to facilitate its purchase of Celgene Corp. (NASDAQ:CELG). Monday's deal is contingent on BMS entering a consent decree with the FTC (see "Next Launches Critical for BMS")...