Shares of Amgen Inc. fell 1.0% in premarket trading Monday after the biotechnology company said it agreed to buy Celgene Corp.’s psoriasis treatment Otezla for $13.4 billion in cash.
Bristol-Myers Squibb Co. said the previously announced decision to Otezla was part of the regulatory approval process for the pending acquisition of Celgene. Shares of Celgene surged 3.7% in premarket trading and Bristol-Myers Squibb Co. shot up 5.2%. Amgen said the deal will immediately add to adjusted earnings per share, and will not interrupt the deployment of its capital allocation priorities.
“The acquisition of Otezla offers a unique opportunity for Amgen to provide patients an innovative oral therapy for psoriasis and psoriatic arthritis that fits squarely within our portfolio and complements our Enbrel(R) and AMGEVITA(R) brands,” said Amgen Chief Executive Robert Bradway.
Amgen’s stock has gained 2.3% year to date while the Dow Jones Industrial Average rallied 9.9%.
By Tomi Kilgore
Source: MarketWatch
CureVac and the University of Texas’s MD Anderson Cancer Center have announced a co-development and licensing agreement to develop novel messenger ribonucleic acid (mRNA)-based cancer vaccines. The strategic collaboration will focus on the development of differentiated cancer vaccine candidates in selected haematological and solid tumour indications with high unmet medical needs.
FUJIFILM Corporation is planning to invest $1.2 billion to expand the planned FUJIFILM Diosynth Biotechnologies manufacturing facility in Holly Springs, North Carolina, US. This news follows the organisation’s announcement of a $2 billion investment in the facility in March 2021. This additional financial boost totals the investment to over $3.2 billion, FUJIFILM confirmed.
Sanofi’s global restructuring and downsizing is now fully underway, with layoffs stretching to the company’s Belgian offices. Belgian newspaper De Tijd reports that 67 employees have been laid off at a site in Ghent and 32 jobs are on the chopping block at Sanofi’s Belgium HQ in Diegem.
