Friday, November 1, 2019

Amgen Takes Stake In Chinese Oncology Company

Thousand Oaks-based Amgen said on Thursday afternoon that it has taken a 20.5 percent stake in BeiGene, a research-based, oncology-focused biotechnology company in China. According to Amgen, it paid approximately $2.7 billion in cash for the stake in BeiGene, which it says it will use to expand its oncology presence in China. BeiGene has a 700-person commercial organization and 600-person clinical development organization, according to Amgen. The deal includes an agreement to commercialize three of Amgen's products -- XGEVA (denosumab), KYPROLIS (carfilzomib) and BLINCYTO (blinatumomab)--in China.

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