Amgen Signs an Agreement with BeiGene for the Expansion of its Oncology Footprints in China

 Amgen Signs an Agreement with BeiGene for the Expansion of its Oncology Footprints in China

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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

Shiwani Sharma

Shiwani Sharma is a Senior Editor at PharmaShots. She has in-depth knowledge of lifesciences industry including pharma and biotech sectors. She also covers news in field of Digital Health, Medtech and regulatory approvals from the US FDA, EU, and other global regulatory bodies in the industry. Additionally, she also writes Whitepapers, analysis reports, blogs on pharma and biotech industry. She is graduate in Biotechnology. She can be contacted on shiwani@pharmashots.com

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