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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
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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)
06/13/201616:00:00Amgen Announces FDA Advisory Committee Meeting To Review ABP...
06/10/201616:00:00New Analyses From Pivotal Phase 3 Studies Show Kyprolis® (Carfilzomib...
06/10/201609:17:28Current Report Filing (8-k)
06/10/201609:00:00Amgen Announces Expiration And Final Results Of Senior Notes...
06/10/201602:30:00BLINCYTO® (Blinatumomab) Improved Overall Survival In Patients...
06/09/201616:18:40Statement of Changes in Beneficial Ownership (4)
06/08/201616:30:00Amgen Announces Erenumab (AMG 334) Significantly Reduces Patients...
06/07/201609:00:00New National Survey Sheds Light On How To Better Engage Students...
06/06/201616:00:00New Phase 3 Secondary Analysis Shows Progression-Free Survival...
06/06/201612:20:00Gilead's New CEO Faces Pressures on Hepatitis C Pills
06/03/201616:15:00Amgen Announces Launch Of KYPROLIS® (carfilzomib) CENTRAL, An...
06/03/201616:00:00Amgen To Present At The Goldman Sachs 37th Annual Global Healthcare...
06/01/201602:30:00Bayer Collaborates with U.S. National Surgical Adjuvant Breast...
05/31/201616:32:17Specialized Disclosure Report (sd)

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