Amgen Acquires Abgenix for $2.2 B
Filed in archive Corporate and Industrial News , Drugs, Vaccines and Therapeutics by ruth on December 15, 2005

The acquisition of Abgenix provides Amgen with full ownership of one of its most important advanced pipeline products, panitumumab. Working closely with Abgenix under a co-development agreement that Amgen assumed as a result of its acquisition of Immunex Corporation in 2002, Amgen has led the development and commercialization strategy for panitumumab. The acquisition provides additional value to Amgen by eliminating a tiered royalty that Amgen would have paid to Abgenix on future sales of denosumab (formerly AMG 162), which was created using Abgenix's XenoMouse(R) antibodytechnology.
Webcast of the conference call regarding the merger is available here.
Source: Amgen
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