THOUSAND OAKS, Calif.,?Jan. 2, 2020?/PRNewswire/ --?Amgen?(NASDAQ: AMGN) today announced the successful closing of the transaction to enter into a strategic collaboration with?BeiGene?that will significantly accelerate?Amgen's?plans to expand its oncology presence in?China, the world's second-largest pharmaceutical market.?BeiGene?is a commercial-stage research-based oncology company with an established and highly experienced team in?China, including an approximately 900-person commercial organization and an approximately 600-person clinical development organization. "There continues to be substantial unmet medical need in?China, particularly for patients with cancer," said?Robert A. Bradway,?Amgen's?chairman and chief executive officer.? "We have been impressed with what?BeiGene?has accomplished, particularly in research, clinical development and commercialization, and we look forward to working together to advance new oncology therapeutics for patients in?China?and around the world." As previously announced, the terms of the collaboration are:

• Amgen?has acquired a 20.5% stake in?BeiGene?for approximately?$2.8 billion?in cash. This represents a purchase price of?$174.85?per BeiGene American Depositary Share on NASDAQ, a 36% premium to?BeiGene's?30-day volume-weighted average share price as of?Oct. 30, 2019, the day prior to the signing of the agreements. In addition,?Anthony C. Hooper, former executive vice president of Global Commercial Operations at?Amgen, has been elected to?BeiGene's?board of directors, effective today.

• BeiGene?will commercialize XGEVA^??(denosumab), KYPROLIS^??(carfilzomib) and BLINCYTO^??(blinatumomab) in?China, during which time the parties will equally share profits and losses. Two of these products will revert to?Amgen, one after five years and one after seven years. Following the commercialization period,?BeiGene?will have the right to retain one product and will be entitled to receive royalties on sales in?China?for an additional five years on the products returned to?Amgen. XGEVA was launched in?China?in?September 2019; New Drug Applications for KYPROLIS and BLINCYTO have been filed in?China.

• Amgen?and?BeiGene?will collaborate to advance 20 medicines from?Amgen's?innovative oncology pipeline in?China?and globally.?BeiGene?will share global research and development costs and contribute up to?$1.25 billion?to advance these medicines.?Amgen?will pay royalties to?BeiGene?on the sales of these products outside of?China, with the exception of AMG 510,?Amgen's?first-in-class KRAS^G12C?inhibitor that is being studied as a potential treatment for solid tumors.?Amgen?anticipates utilizing data from clinical trials conducted in?China?to advance the development of its oncology portfolio globally.

• Of the 20 oncology medicines in development,?BeiGene?will assume commercial rights in?China?for seven years after launch for those that receive approval in?China, including AMG 510. After this time,?BeiGene?will retain rights to up to six of these products in?China, excluding AMG 510, while rights on remaining products revert to?Amgen.?Amgen?and?BeiGene?will share profits in?China?equally on these products until the rights revert to?Amgen, after which?Amgen?will pay royalties to?BeiGene?on sales in?China?for a period of five years after reversion.

• Amgen?will continue to commercialize its non-oncology product portfolio in?China. Last year,?Amgen?launched its first-ever product in?China, Repatha^??(evolocumab), an LDL cholesterol-lowering treatment proven to reduce the risk of heart attacks and stroke.??Amgen?expects to launch a number of other non-oncology medicines in?China?over the next several years, including Prolia^??(denosumab), which reduces the risk of fracture in postmenopausal women with osteoporosis.

• XGEVA, KYPROLIS and BLINCYTO, as well as the medicines in?Amgen's?oncology pipeline, will be manufactured at?Amgen's?existing facilities.

Since 2011,?Amgen?has expanded its geographic presence from approximately 50 to 100 countries, enabling the company to play a growing role in serving the rapidly increasing demand for better healthcare around the world. The pharmaceutical market in?China?is expected to grow briskly as access to new medicines continues to improve. With approximately four million people diagnosed with cancer annually and 2.3 million deaths from the disease each year, the need for new oncology treatments in?China?is particularly acute and the oncology market is one of the fastest-growing segments of the overall pharmaceutical market there. For more information about?Amgen's?products, including important safety information, please visit?www.xgeva.com,?www.kyprolis.com,?www.blincyto.com,?www.repatha.com, and?www.prolia.com. About Amgen Amgen?is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology. Amgen?focuses on areas of high unmet medical need and leverages its biologics manufacturing expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980,?Amgen?has grown to be the world's largest independent biotechnology company, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential. For more information, visit?www.amgen.com?and follow us on?www.twitter.com/amgen. Forward-Looking Statements This news release contains forward-looking statements that are based on the current expectations and beliefs of?Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of the?BeiGene?strategic collaboration, including the impact on non-GAAP EPS, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the?Securities and Exchange Commission?reports filed by?Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted,?Amgen?is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed and actual results may differ materially from those we project. 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Our efforts to collaborate with or acquire other companies or products and to integrate the operations of companies or in support of products we have acquired may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. CONTACT:?Amgen,?Thousand Oaks Trish Hawkins, 805-447-5631 (media) Jessica Akopyan, 805-447-0974 (media) Arvind Sood, 805-447-1060 (investors)    

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