Amgen to buy Celgene psoriasis drug Otezla for $13.4 billion

(Reuters) - Amgen Inc will buy Celgene Corp's psoriasis drug Otezla for $13.4 billion (£10.9 billion) in cash, clearing the way for Bristol-Myers Squibb to go ahead with its $74 billion deal for Celgene by the end of the year.Amgen, which announced the deal on Monday, is paying a hefty price for the drug, analysts and investors said. Still, Otezla will deliver growth for the company right away and its shares rose around 2 percent in early trading.Bristol-Myers and Celgene's shares were both..