
Celgene Sells Psoriasis Drug Otezla to Amgen for $13.4 Billion
The price for Otezla is higher than many analysts expected.
Amgen
The Federal Trade Commission is requiring the sale as a condition of Celgene’s $74 billion merger with Bristol-Meyers Squibb, which is developing its own oral drug for psoriasis and psoriatic arthritis. BMS-986165, an oral, selective tyrosine kinase 2 (TYK2) inhibitor, is in phase 3 clinical trials.
Amgen said the purchase offers several benefits: It fits well with its existing stable of anti-inflammation drugs, including etanercept (Enbrel); it has existing intellectual property rights through at least 2028 in the United States; and it has at least low double-digit sales growth, on average, over the next 5 years. In 2018, apremilast sales were $1.6 billion.
Enbrel, which is also approved to treat psoriasis, had sales last year of more than $5 billion.
Psoriasis is one of the most prevalent immune-mediated diseases in the United States, affecting as many as 8 million people. Up to 40% of patients with psoriasis develop PsA, which leads to permanent joint deformities, particularly when left untreated. Compared with patients with psoriasis who do not have PsA,
Treatment includes topicals and phototherapy; older systemic drugs such as methotrexate and cyclosporine; the Janus kinase inhibitor tofacitinib (Xeljanz); drugs that block tumor necrosis factor-alpha, such as Amgen’s Enbrel; and biologics that block interleukin (IL) 17, IL-12, and IL-23.
The price for Otezla is higher than many analysts expected; last month,
However, Amgen has history on its side when defending patents, particularly in the case of Enbrel.
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