Amgen to Buy Otezla for $13.4 Billion

Amgen to Buy Otezla for $13.4 Billion

Amgen Inc. announced Monday morning it had agreed to buy the psoriasis treatment Otezla from Celgene Corp. for $13.4 billion in cash.

Amgen is one of the largest private employers in Rhode Island and operates a major facility in West Greenwich, RI.

The deal “will pave the way for Bristol-Myers Squibb Co. to complete its acquisition of Celgene,” reports the Wall Street Journal.

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According to the WSJ, “Amgen said the deal is valued at about $11.2 billion, net of the present value of $2.2 billion in anticipated future cash tax benefits.

Bristol-Myers and Celgene previously agreed to shed Otezla to satisfy regulatory concerns over their union. Bristol-Myers said it expects to complete the acquisition of Celgene by the end of the year.”

 

Expansion in RI

In April of 2018, Amgen announced its plans to build a new state-of-the-art next-generation biomanufacturing plant at its campus in West Greenwich, R.I. The new plant, the first of its kind in the United States (U.S.), employs Amgen's proven next-generation biomanufacturing capabilities and manufacture products for the U.S. and global markets.

The next-generation biomanufacturing plant incorporates multiple innovative technologies into a single facility, and therefore is built in half the construction time with approximately one half of the operating cost of a traditional plant. Next-generation biomanufacturing plants require a smaller manufacturing footprint and offer greater environmental benefits, including reduced consumption of water and energy and lower levels of carbon emissions.