In light of concerns expressed by the US Federal Trade Commission, Bristol-Myers Squibb has agreed to divest Celgene’s psoriasis drug, Otezla® (apremilast), to Amgen in exchange for US$13.4 B. The asset complements Amgen’s marketed immunology portfolio which is led by Enbrel® (etanercept) and Amgevita™ (a biosimilar of AbbVie’s Humira® (adalimumab)) and offers the company a source of short and long-term revenue growth as it faces biosimilar competition for its leading product, Neulasta® (pegfilgrastim).