Kirkland & Ellis advised Bristol-Myers Squibb Company (NYSE: BMY) on the agreement with Amgen (NASDAQ: AMGN) for Amgen to acquire the global rights to Celgene Corporation’s (NASDAQ: CELG) OTEZLA® (apremilast) for $13.4 billion in cash. Bristol-Myers Squibb previously announced the decision to divest OTEZLA in connection with the ongoing regulatory approval process for Bristol-Myers Squibb’s pending merger with Celgene. The closing of the acquisition covered by the agreement with Amgen is contingent on Bristol-Myers Squibb and Celgene entering into a consent decree with the Federal Trade Commission (FTC) in connection with their pending merger, the closing of the pending merger, and the satisfaction of other customary closing conditions. Bristol-Myers Squibb’s pending merger with Celgene is expected to close by the end of 2019.
The Kirkland team was led by transactional partners Daniel Wolf, Jonathan Davis and Ryan Brissette along with David Fox; technology & IP transactions partner Lisa Samenfeld and associates Frank Wei and Ashley Eisenberg; tax partners Sara Zablotney and Dean Shulman and associate Vivek Ratnam; and antitrust partner Matt Reilly.