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BioWorld - Sunday, April 19, 2026
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Home » Slow growth for Celgene's Otezla; Amgen reports hurricane expenses, drops CETP inhibitor program
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Slow growth for Celgene's Otezla; Amgen reports hurricane expenses, drops CETP inhibitor program

Oct. 27, 2017
By Karen Carey
Shares of Celgene Corp. tanked on Thursday following the company's release of third-quarter financials, which included a slow growth for arthritis/psoriasis drug Otezla (apremilast) and lowered long-term targets. Meanwhile, Amgen Inc. reported $67 million in pre-tax expenses due to Hurricane Maria's toll on the company's Puerto Rico-based manufacturing facility. It also dropped development of its oral cholesterol ester transfer protein (CETP) inhibitor, resulting in a $116 million charge.
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