Shots:

• Amgen acquires 20.5% stake in BeiGene for ~$2.8B in cash- with $174.85/share representing 36% premium. BeiGene will commercialize Xgeva- Kyprolis- and Blincyto in China with equal profit-loss sharing while two of them will revert to Amgen- after 5yrs. & 7yrs. BeiGene has the right to retain one product and will receive royalties on sales for five yrs.
• Amgen to advance 20 therapies globally from its oncology pipeline with BeiGene while BeiGene will share global R&D costs up to $1.25B. BeiGene will also receive royalties on sales (ex-China) except for AMG 510. Post-approval of therapies including AMG 510 in China- BeiGene to get commercialization rights in China for 7yrs and will retain rights for 6 therapies (ex AMG 510) in China after 7 yrs. The companies will share profits equally in China until the reversion. Post reversion- Amgen will pay royalties to BeiGene on sales in China for 5 years
• Additionally- Amgen has launched Repatha (evolocumab)- LDL cholesterol-lowering candidate for reducing the risk of heart attacks and stroke- with the expected launch of Prolia (denosumab) for reducing the risk of fracture in postmenopausal women with osteoporosis. In Sept 2019- Amgen launched Xgeva (denosumab) with expected regulatory submission for Kyprolis (carfilzomib) and Blincyto (blinatumomab) in China

Click here to read full press release/ article | Ref: Amgen | Image: Signbox