Amgen scored its second sizeable acquisition in two days with its announcement that it will pay $300 million for Alantos Pharmaceuticals [1]. Cambridge, MA-based Alantos' lead drug candidate--ALS 2-0426--is a DPP-IV inhibitor in Phase IIa, a popular approach to treating Type 2 diabetes. Servient is the development partner on the program. An acquisition-hungry Amgen snapped up Ilypsa yesterday [2] for $420 as it takes out its check book to buy up new drug candidates.
"We also intend to pursue the MMP program with the hope of bringing a novel, disease modifying therapy into the clinic for osteoarthritis," said Roger M. Perlmutter, M.D., Ph.D., Amgen's executive vice president for research and development.
- check out the release [3] on the deal
Related Articles:
Amgen in crisis? Not us, says CEO Sharer. Report [4]
Major challenges loom for Amgen. Report [5]
Amgen CFO walks as challenges mount. Report [6]
Links:
[1] http://www.fiercebiotech.com/story/also-noted-alantos-pharmaceuticals-inks-deal-with-servier-millipore-opens-5/2006-10-24
[2] http://www.fiercebiotech.com/story/amgen-inks-420m-deal-to-buy-ilypsa/2007-06-05
[3] http://www.fiercebiotech.com/node/7146
[4] http://www.fiercebiotech.com/story/amgen-in-crisis-not-us-says-ceo-sharer/2007-04-17
[5] http://www.fiercebiotech.com/story/major-challenges-loom-for-amgen/2006-10-26
[6] http://www.fiercebiotech.com/story/amgen-cfo-walks-as-challenges-mount/2007-04-11