Bristol-Myers Wins U.S. Antitrust Approval for Celgene Takeover

Bristol-Myers Squibb Co. won U.S. antitrust approval for its acquisition of Celgene Corp., the last regulatory approval needed for the blockbuster pharmaceutical deal.

The Federal Trade Commission signed off on the tie-up after Bristol-Myers earlier this year agreed to sell one of Celgene’s most lucrative drugs to resolve concerns the deal would otherwise harm competition, the agency said Friday.

The combination of the two companies represents a move to gain advantage in a crowded market for innovative cancer treatments. Bristol makes an immunotherapy drug called Opdivo that accounts for roughly a quarter of its sales but that has trailed a ...