Amgen Acquires Stake in BeiGene to Expand its Oncology Portfolio in China

Amgen Acquires Stake in BeiGene to Expand its Oncology Portfolio in China

Shots:

  • BeiGene to commercialize Amgen’s Xgeva (denosumab), Kyprolis (carfilzomib) and Blincyto (blinatumomab) in China (Ex- Hong Kong, Macao & Taiwan) for 5 or 7yrs. with equal profit & loss sharing and will retain rights for one product plus will receive royalties on sales in China for an additional 5 yrs. on the products not retained
  • Amgen to acquire 20.5% shares in BeiGene for ~$2.7B at $174.85/ADS. Additionally, the companies will jointly develop 20 oncology assets globally in Amgen’s pipeline, including AMG 510 and BiTE antibodies for solid and hematologic malignancies and BeiGene will be responsible for commercialization in China and will contribute $1.25B in development cost
  • For each of the 20 assets, BeiGene to get 7yrs. of commercialization rights and post completion of yrs. will receive royalties on sales in China for 5yrs. Amgen will pay royalties for the ROW for each product (Ex- AMG 510). BeiGene will retain rights for 1 out of 3 approved products, up to a total of six (Ex- AMG 510) for commercialization in China. Profits and losses will be shared

Click here to­ read full press release/ article | Ref: BeiGene | Image: Los Angeles Times