Struggling under the weight of falling anemia drug sales [1], Amgen is selling the Japanese rights to a slate of some 13 experimental therapies to Takeda in a deal that may be worth more than $1 billion. For Takeda, which is putting up $200 million upfront and $340 million in worldwide research costs, the pact marks a major lunge into the biologics market [2].
The deal includes $362 million in milestones payments and a deal to to acquire Amgen KK, Amgen's Japanese subsidiary. And in a separate deal, Takeda has signed on to partner with Amgen on the cancer drug motesanib. Takeda will play $100 million up front and $175 million in a schedule of milestone paydays. Amgen announced plans to out-license some of its drugs last summer, when weakening sales forced the company to launch its first-ever cost-cutting move [3]. "We have more assets in our pipeline than we can develop ourselves," said Amgen CEO Kevin W. Sharer recently.
- see this release [4]
- here's the article [5] from The New York Times
ALSO: Take a look at Amgen's pipeline. Report [6]
Related Articles:
Amgen - Top 5 layoffs of 2007. Report [7]
Amgen makes big workforce, budget cuts. Report [3]
Amgen income hammered as anemia drug use drops. Report [1]
Takeda expands R&D budget, may look for buyout. Report [2]
Links:
[1] http://www.fiercebiotech.com/story/amgen-income-hammered-anemia-drug-use-drops/2007-10-26
[2] http://www.fiercebiotech.com/story/takeda-expands-r-amp-d-budget-may-look-for-buyout/2006-09-22
[3] http://www.fiercebiotech.com/story/amgen-makes-big-workforce-budget-cuts/2007-08-16
[4] http://www.fiercebiotech.com/press-releases/amgen-and-takeda-announce-exclusive-collaboration-japan-13-amgen-clinical-candidates
[5] http://www.nytimes.com/2008/02/05/business/worldbusiness/05amgen.html?ref=business
[6] http://www.fiercebiotech.com/special-reports/9-amgen-top-15-r-d-budgets
[7] http://www.fiercebiotech.com/special-reports/5-amgen