Amgen to take 20.5% stake in BeiGene to expand in China [Reuters (UK)]
BeiGene, Ltd. - American Depositary Shares (BGNE)
Last beigene, ltd. - american depositary shares earnings: 3/2 04:05 pm
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Source: Reuters
Amgen to take 20.5% stake in BeiGene to expand in China - Reuters 4 Min Read LOS ANGELES (Reuters) - Amgen Inc ( AMGN.O ) said on Thursday it will acquire a 20.5% stake in BeiGene Ltd ( 6160.HK ) in a deal that will enable the California-based biotechnology company to expand its presence in China, the world’s second largest pharmaceutical market. Amgen said it will pay around $2.7 billion in cash, or $174.85 per BeiGene American depository share, for the stake in BeiGene, which agreed to commercialize three Amgen cancer drugs in China. The two companies will also collaborate on development of Amgen’s oncology pipeline. Amgen and BeiGene will share profits for at least five years on Xgeva, which prevents fractures caused by cancer that has spread to the bone, as well as blood cancer drugs Kyprolis and Blincyto. Under the deal, two of those drugs will revert to Amgen - one after five years and one after seven years. BeiGene can retain one product and will receive royalties on sales
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BGNE
News
- BeiGene, Ltd. (NASDAQ: BGNE) had its price target raised by analysts at TD Cowen from $236.00 to $254.00. They now have a "buy" rating on the stock.MarketBeat
- BeiGene Reports First Quarter 2024 Financial Results and Business UpdatesBusiness Wire
- BeiGene Demonstrates Global Progress in 2023 Responsible Business & Sustainability Report [Yahoo! Finance]Yahoo! Finance
- BeiGene Demonstrates Global Progress in 2023 Responsible Business & Sustainability ReportBusiness Wire
- Global Oncology Innovator BeiGene Highlights New Data across Hematology and Solid Tumor Portfolio at 2024 ASCO Annual Meeting [Yahoo! Finance]Yahoo! Finance
BGNE
Earnings
- 5/8/24 - Beat
BGNE
Sec Filings
- 5/8/24 - Form 10-Q
- 5/8/24 - Form 8-K
- 4/26/24 - Form ARS
- BGNE's page on the SEC website