Six burning Otezla questions

Yesterday’s announcement that Celgene’s Otezla would be sold to Amgen for $13.4bn to enable Bristol-Myers Squibb to buy its maker was greeted with a sigh of relief.

All three stocks climbed 3%, as Amgen added a product to reinforce its Enbrel franchise, Bristol secured a generous price for it, and a risk to Celgene’s buyout was removed. As sellside analysts adjust their financial models to reflect the deal here are six considerations investors should bear in mind as they assess who has come out on top.