logo
Plus   Neg
Share
Email

Bristol-Myers Squibb Plans To Divest OTEZLA - Quick Facts

To address the concerns raised by the U.S. Federal Trade Commission or FTC, Bristol-Myers Squibb Company (BMY is planning the divestiture of OTEZLA (apremilast). The company said the proceeds from the sale will allow it to accelerate post-closing deleveraging plans.

Bristol-Myers Squibb and Celgene have submitted the formal application for clearance by the European Commission. Bristol-Myers Squibb currently expects to close the deal by the end of 2019 or the beginning of 2020.

Together with $2.5 billion of cost synergies from the deal, Bristol-Myers Squibb continues to expect growth in sales and earnings through 2025.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT