Thursday, January 2, 2020

Amgen Expands Oncology Efforts In China With BeiGene

Thousand Oaks-based Amgen announced Thursday that it has entered into a strategic collaboration with BeiGene the expand its oncology research efforts in China. According to Amgen, it paid $2.8 billion in cash to acquire a 20.5 percent stake in BeiGene. Amgen said the move will "significantly accelerate" its plans to expand its oncology efforts in China. BeiGene has approximately 900 people in its commercial organization and 600 people in clinical development, according to Amgen. Amgen says that BeiGene will commercialize XGEVA (denosumab), KYPROLIS (carfilzomib) and BLINCYTO (blinatumomab) in China, during which time the parties will equally share profits and losses.

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