Bristol-Myers Squibb and Celgene are both down more than 5% following the announcement. Otezla generated about $1.6 billion in revenue last fiscal year for Celgene. Bristol-Myers Squibb originally expected to close the deal in the third quarter, but is now says it is aiming for the end of 2019 or the beginning of 2020.
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Bristol-Myers Squibb, Celgene slide following news of delayed deal and psoriasis drug divestment