Amgen to Make $2.7 Billion Investment in BeiGene; BeiGene to Develop 23 Amgen Candidates in China
publication date: Oct 31, 2019
BeiGene, a Beijing cancer biopharma, announced a blockbuster collaboration with Amgen that calls for Amgen to invest $2.7 billion into BeiGene while BeiGene agrees to develop and market 23 Amgen novel cancer candidates in China. One of the drugs is already approved in China and two others are approved outside of China. In addition, BeiGene will be in charge of China development for 20 Amgen pre-clinical molecules. All together, BeiGene will set aside $1.2 billion for development costs of the candidates. It said the agreement will build its China marketing business while its own drugs move into commercialization. The $2.7 billion Amgen investment represents a 20.5% stake in BeiGene, valuing the company at $13 billion. More details....
Stock Symbols: (NSDQ: BGNE; HK: 06160) (NSDQ: AMGN)
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