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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; [email protected]

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
01/19/201717:29:35Amended Statement of Ownership (sc 13g/a)
01/17/201710:00:00deCODE Study Shows that Variants in the Sequence of the Genome...
01/17/201705:00:00deCODE Study Shows that Variants in the Sequence of the Genome...
01/13/201717:17:58Post-effective Amendment to an S-8 Filing (s-8 Pos)
01/13/201717:11:28Post-effective Amendment to an S-8 Filing (s-8 Pos)
01/13/201716:21:00Supreme Court to Weigh How Soon Firms Can Sell Copycat Biotech...
01/10/201716:12:00Study Results Published in the Journal of the American Medical...
01/09/201718:21:00Amgen Statement on January 9, 2017, U.S. District Court Decision
01/09/201706:12:09Current Report Filing (8-k)
01/09/201706:00:00Amgen And DaVita Enter Into New Sourcing And Supply Agreement
01/09/201704:00:00Amgen and Immatics Enter Strategic Collaboration to Develop Novel...
01/06/201714:29:00Sanofi Investors Count Cost of Praluent Ruling -- Update
01/06/201708:41:00Sanofi Investors Count Cost of Praluent Ruling
01/06/201703:02:00Sanofi Loses Patent Case -- WSJ
01/05/201721:34:00Court Grants Permanent Injunction For Infringement Of Amgen's...
01/05/201721:07:00Judge Rules Against Sanofi and Regeneron in Patent Case -- Update
01/05/201720:25:00Judge Rules Against Sanofi and Regeneron in Patent Case
01/04/201716:00:00Amgen To Present At The 35th Annual J.P. Morgan Healthcare Conference
12/22/201619:27:00Donald Trump's Pick for Health Secretary Traded Medical Stocks...
12/20/201616:20:00Amgen Announces 15 Percent Increase In 2017 First Quarter Dividend

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