Amgen Invests an Additional $421 M in BeiGeneBy
Amgen has made an additional investment of $421 million in BeiGene, a Beijing-based pharmaceutical company, which builds on a $2.8-billion drug-development and commercialization pact that the companies finalized earlier this year (2020).
In January (January 2020) Amgen formed a global strategic oncology collaboration with BeiGene and took an equity stake in the company for $2.8 billion for the commercialization and development in China of three Amgen oncology drugs: Xgeva (denosumab) for treating giant cell tumors of the bone; Kyprolis (carfilzomib) for treating multiple myeloma; and Blincyto (blinatumomab) for treating relapsed or refractory acute lymphoblastic leukemia. The companies also agreed to collaborate for the joint global development of 20 oncology assets in Amgen’s pipeline with BeiGene responsible for development and commercialization in China.
Amgen’s additional $421-million investment in BeiGene keeps Amgen’s current stake in BeiGene at approximately 20.3%.