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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
02/07/201618:15:00Drug Industry Launches Ad Campaign Aimed at Lawmakers
02/05/201617:06:00Amgen To Present At The Leerink Partners 5th Annual Global Healthcare...
02/04/201616:17:00Phase 3 Study of BLINCYTO® (Blinatumomab) Met Primary Endpoint...
02/04/201616:00:00Amgen Announces Positive Top-Line Results From Phase 3 GAUSS-3...
01/28/201616:40:00Amgen Profit Rises 39%; 2016 Outlook Raised
01/28/201616:31:00Amgen Profit Rises 39%; 2016 Outlook Raised
01/28/201616:00:00Amgen's 2015 Revenues Increased 8 Percent To $21.7 Billion And...
01/25/201617:20:00FDA Accepts Amgen's Biosimilar Biologics License Application...
01/25/201616:03:00Amgen Announces Webcast of 2015 Fourth Quarter and Full Year...
01/23/201613:00:00Vectibix® (panitumumab) And Best Supportive Care Improves Overall...
01/22/201601:00:00Amgen's Repatha® (Evolocumab) Approved As First PCSK9 Inhibitor...
01/21/201616:32:00FDA Approves New Kyprolis® (Carfilzomib) Combination Therapy...
01/11/201612:50:00Celgene Names New CEO, Cuts 2015 Profit Outlook
01/10/201620:33:00Drugmakers Keep Raising Prices Despite Criticisms
01/07/201616:05:00Amgen To Present At The 34th Annual J.P. Morgan Healthcare Conference
12/18/201501:00:00European Commission Approves Amgen's IMLYGIC™ (talimogene laherparepvec) A...
12/15/201516:45:00Amgen Raises Quarterly Dividend 27%
12/15/201516:00:00Amgen Announces 27 Percent Increase In 2016 First Quarter Dividend
12/14/201519:10:00Amgen Takes Back Rights to Prolia, Xgeva and Vectibix Drugs
12/14/201517:50:00Amgen Takes Back Rights to Prolia, Xgeva and Vectibix Drugs

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