In Merger Plot Twist, BMS Needs A Buyer For Celgene's Otezla, Raising New Questions
Bristol-Myers will have to divest Celgene's blockbuster psoriasis pill to address concerns raised by the US FTC related to the merger. The news raised questions about whether FTC is giving more scrutiny to pipeline overlap.
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Pfizer’s acquisition of Arena without FTC intervention and Hikma’s acquisition of Custopharm with one product divestiture shows the commission is bound by anticompetitive facts of a deal. A more controversial merger may not get through, former FTC attorney says.
The deal is a nod for Arena's turnaround strategy and could be the start of an active deal-making period for Pfizer, flush with cash.
US antitrust regulators appear poised to take a broader view of disease areas when reviewing mergers, Lazard Freres financial advisory CEO Peter Orszag cautioned.