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Amgen To Buy KAI Pharma For $315 Million In Cash

DOW JONES NEWSWIRES Amgen Inc. (AMGN) has agreed to acquire privately held company KAI Pharmaceuticals for $315 million in cash, giving the drug maker rights to an experimental drug to treat chronic kidney disease. In connection with the deal, Amgen is providing a loan prior to closing for Phase 3 clinical testing of KAI-4169, a drug that is being studied for the treatment of secondary hyperparathyroidism, a common complication for patients who are on dialysis. The deal will give Amgen rights to KAI-4169, outside of Japan. "KAI has demonstrated encouraging results in the clinic. We are excited about acquiring KAI, as well as the opportunity to potentially deliver a novel therapy for chronic kidney disease patients on dialysis suffering from secondary hyperparathyroidism," said Sean E. Harper, executive vice president of research and development at Amgen. Amgen, the biggest stand-alone biotechnology company, has been making acquisitions in a bid to bolster its research-and-development pipeline as sales growth for older drugs has slowed. The transaction, which has been approved by KAI stockholders and both companies' boards, is subject to regulatory approvals. After the deal is completed, KAI will become a wholly owned unit of Amgen. Amgen shares closed at $67.02 on Monday and were inactive in premarket trading. The stock is up 4.4% so far this year. ---By Kristin Jones, Dow Jones Newswires; 212-416-2208; kristin.jones@dowjones.com

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
07/22/201616:30:00Amgen Announces Webcast Of 2016 Second Quarter Financial Results
07/22/201616:00:00Amgen Announces 2016 Third Quarter Dividend
07/22/201601:00:00Amgen And UCB Submit Biologics License Application For Romosozumab...
07/21/201612:50:00Amgen and Allergan Study Finds Biosimilar Comparable to Herceptin
07/21/201612:37:00Amgen and Allergan Study Finds Biosimilar Comparable to Herceptin
07/21/201609:00:00Amgen And Allergan Announce Top-Line Results From Phase 3 Study...
07/20/201620:29:00Amgen Announces Settlement Of Securities Litigation
07/20/201607:40:00Technical Coverage on Biotechnology Equities -- Galena Biopharma...
07/13/201621:00:00Amgen And Daiichi Sankyo Announce Agreement To Commercialize...
07/12/201619:20:00Amgen Biosimilar Gets Thumbs-Up From FDA Panel
07/12/201607:30:00Amgen To Discuss Data Supporting Biologics License Application...
07/11/201609:00:00FDA Approves First And Only Single Monthly Injection For A PCSK9...
07/06/201617:50:00Western Digital Names New CFO, Boosts Guidance
07/04/201601:00:00European Commission Approves Extended Indication For Amgen's...
06/22/201618:00:00Amgen Sponsors QB3@953 Incubator For Life Science Startups
06/20/201608:25:00Biotechnology Stocks Under Review - Eleven Biotherapeutics, Relypsa...
06/17/201616:00:00Amgen Appoints Esteban Santos Executive Vice President, Operations
06/15/201616:58:28Annual Report of Employee Stock Plans (11-k)
06/15/201616:51:42Annual Report of Employee Stock Plans (11-k)
06/14/201616:55:30Current Report Filing (8-k)

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