Skip to NavigationSkip to content

Amgen drops $2.7bn to acquire stake in Chinese biotech in bid to expand in the region

Published on 01/11/19 at 11:28am

Amgen has signed an agreement with Chinese biotech BeiGene to acquire a 20.5% stake in the latter, in a bid to “significantly accelerate” the pharma firm’s plans to “expand its oncology presence in China, the world's second-largest pharmaceutical market”, it has emerged.

Under the terms of the deal, Amgen will purchase the stake for $2.7 billion in cash, equivalent to $174.85 per share. In doing so, the pair have agreed that BeiGene will handle the commercialisation of three Amgen drugs in China: Xgeva (denosumab), Kyprolis (carfilzomib) and Blincyto (blinatumomab), sharing the profits and losses evenly.

After five years, one of these products will revert back to Amgen, followed by another after seven years. BeiGene is awarded the right to retain one product for an extra five years, while it will also receive royalties on Chinese sales for the products not retained.

Additionally, the deal will bring together the two partners to work on the development of 20 Amgen oncology drugs, pooling resources to contribute up to $1.25 billion in this pursuit.  

“This strategic collaboration with BeiGene will enable Amgen to serve significantly more patients by expanding our presence in the world's most populous country,” said Robert A Bradway, Amgen's Chairman and Chief Executive Officer. “Cancer is a leading cause of death in China and will only become a more pressing public health issue as the Chinese population ages. With its extensive commercial and clinical capabilities within China and a commitment to global quality standards, BeiGene is the ideal strategic collaborator as we seek to make a meaningful difference in the lives of millions of cancer patients in China and around the world.”

David W Meline, Amgen’s Executive Vice President and Chief Financial Officer at Amgen: "Amgen's capital allocation priorities remain unchanged. We will continue to grow our business through internal investment and business development, while providing attractive returns to our shareholders through a growing dividend and continued share repurchases."

With a focus on oncology, BeiGene boasts commercial and clinical development teams of 700 and 600 staff, respectively. Subject to approval from the shareholders at BeiGene, both companies expect the deal to close early next year.

Matt Fellows

Comments

Thanks for the post and great tips..even I also think that hard work is the most important aspect of getting success.. iphone lcd wholesale

These are some great tools that i definitely use for SEO work. This is a great list to use in the future.. Tree Removal orange county CA

I read that Post and got it fine and informative. Please share more like that... Queens no fault clinic

Nice Informative Blog having nice sharing.. cheap e juice

Thanks for a wonderful share. Your article has proved your hard work and experience you have got in this field. Brilliant .i love it reading. buyeliquid.com

Great survey, I'm sure you're getting a great response. Movers

Great post, and great website. Thanks for the information! Movers

I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. digital marketing solutions

Great info! I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have. Positive Psychology Certificate

Thanks for the valuable information and insights you have so provided here... Self Defense for Women Near Me

Please share more like that. nicole barlettano

Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job. German Shepherd dog trainer

The post is written in very a good manner and it contains many useful information for me. best upvc windows in Melbourne

I read a article under the same title some time ago, but this articles quality is much, much better. How you do this.. home accessories manufacturers

I have read your article, it is very informative and helpful for me.I admire the valuable information you offer in your articles. Thanks for posting it.. platinum forex system

This was really an interesting topic and I kinda agree with what you have mentioned here! no id bank account

Positive site, where did u come up with the information on this posting? I'm pleased I discovered it though, ill be checking back soon to find out what additional posts you include. Flood Damage Experts Grand Rapids

Great things you’ve always shared with us. Just keep writing this kind of posts.The time which was wasted in traveling for tuition now it can be used for studies.Thanks photofacial

I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well.. digital marketing for real estate

I learn some new stuff from it too, thanks for sharing your information. best tuner cars

I just found this blog and have high hopes for it to continue. Keep up the great work, its hard to find good ones. I have added to my favorites. Thank You. Construction to Permanent Loans

Really a great addition. I have read this marvelous post. Thanks for sharing information about it. I really like that. Thanks so lot for your convene. Photographer Baha Mar

Superbly written article, if only all bloggers offered the same content as you, the internet would be a far better place.. movers near me

this is really nice to read..informative post is very good to read..thanks a lot! we buy houses in rhode island

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often. cheap cuban cigar

Very useful info. Hope to see more posts soon!. bookkeeper in san diego

This is a great inspiring article.I am pretty much pleased with your good work.You put really very helpful information. Keep it up. Keep blogging. Looking to reading your next post. screen time moderation

Hi, I find reading this article a joy. It is extremely helpful and interesting and very much looking forward to reading more of your work.. 2nd offense dwi louisiana

Thank you for helping people get the information they need. Great stuff as usual. Keep up the great work!!! we buy houses for cash

I really loved reading your blog. It was very well authored and easy to understand. Unlike other blogs I have read which are really not that good.Thanks alot! Irvine H-1B lawyer

This content is written very well. Your use of formatting when making your points makes your observations very clear and easy to understand. Thank you. TAVR / TAVI Centre

Thank you very much for writing such an interesting article on this topic. This has really made me think and I hope to read more. Food delivery

Your content is nothing short of brilliant in many ways. I think this is engaging and eye-opening material. Thank you so much for caring about your content and your readers. marriage certificate apostille

This article is an appealing wealth of informative data that is interesting and well-written. I commend your hard work on this and thank you for this information. You’ve got what it takes to get attention. Document authentication

Great articles and great layout. Your blog post deserves all of the positive feedback it’s been getting. finance

I read your blog frequently and I just thought I’d say keep up the amazing work! San Diego egg donor agency

Great knowledge, do anyone mind merely reference back to it buy mdma online

Logo digitizing or digitizing services is our job. Our group of embroidery digitizers concentrate on little text digitizing, 3-D embroidery digitizing, appliqué digitizing, and all other digitizing techniques for all feasible clothes short articles’ placement like left chest logos, jacket back logos, patches on different textiles, structures, style clothing, and so on. We do logo digitizing and also offer embroidery Excellent Digitizing service; we have actually digitized 100,000 plus logos since 2008.

Thanks a lot for sharing us about this update. Hope you will not get tired on making posts as informative as this. fl

I read your blog frequently and I just thought I’d say keep up the amazing work! sydney send flowers

Thank you for such a well written article. It’s full of insightful information and entertaining descriptions. Your point of view is the best among many. Industrial transportation

Thank you very much for writing such an interesting article on this topic. This has really made me think and I hope to read more. 20 tow truck service san jose ca

hi was just seeing if you minded a comment. i like your website and the thme you picked is super. I will be back. remote controlled ceiling fans with lights

Wow, this is really interesting reading. I am glad I found this and got to read it. Great job on this content. I like it. great deals on hp laptops

Impressive web site, Distinguished feedback that I can tackle. Im moving forward and may apply to my current job as a pet sitter, which is very enjoyable, but I need to additional expand. Regards. the best countertop dishwasher

Hi there! Nice stuff, do keep me posted when you post again something like this! poier point

Great articles and great layout. Your blog post deserves all of the positive feedback it’s been getting. goodies personnalisables

Merely a smiling visitant here to share the love (:, btw outstanding style. Kukla.bg

Interesting and amazing how your post is! It Is Useful and helpful for me That I like it very much, and I am looking forward to Hearing from your next.. airbnb near Murfreesboro Tennessee

I can see that you are an expert at your field! I am launching a website soon, and your information will be very useful for me.. Thanks for all your help and wishing you all the success in your business. جهاز كشف الذهب

Mission Statement
Pharmafile.com is a leading portal for the pharmaceutical industry, providing industry professionals with pharma news, pharma events, pharma service company listings and pharma jobs,
Site content is produced by our editorial team exclusively for Pharmafile.com and our industry newspaper Pharmafocus. Service company profiles and listings are taken from our pharmaceutical industry directory, Pharmafile, and presented in a unique Find and Compare format to ensure the most relevant matches