Amgen Completes Purchase Of About $2.8 Bln Of BeiGene Shares

(RTTNews) - Amgen (AMGN) has completed its purchase of an about 20.5% equity stake in BeiGene, Ltd. (BGNE). Amgen purchased about 15.90 million of BeiGene's American Depositary Shares for about $2.8 billion in cash, BeiGene said in a statement.

As per the terms of the collaboration, BeiGene will assume responsibility for the commercialization and development in China of Amgen's three oncology medicines, XGEVA, KYPROLIS, and BLINCYTO (blinatumomab) that have been approved or filed in China. BeiGene and Amgen will collaborate to advance 20 investigational oncology assets in Amgen's pipeline, with BeiGene leading development and commercialization in China.

BeiGene announced the election of Anthony Hooper, former Executive Vice President of Global Commercial Operations at Amgen, to its board of directors, effective today.