Analysts: Amgen, Celgene Need to Make Acquisitions to Boost Growth

Amgen Inc. and Celgene Corp. may dive into deal-making this year as the biggest biotechnology companies seek to return to the industry’s high-growth roots. Amgen and Celgene are trying to boost investor returns that have lagged behind peers and may have to compete with traditional acquirers from the pharmaceutical industry, such as New York-based Pfizer Inc. and Bristol-Myers Squibb Co. In the past five years, the Nasdaq Biotechnology Index has increased 36 percent while Amgen, the world’s largest biotechnology company, fell 6 percent and Celgene gained 18 percent. The biotechs have historically been less active than their pharmaceutical industry counterparts. Bristol-Myers has completed 17 acquisitions since 2007, a period in which Amgen had nine and Celgene three.