Amgen Spends US$1.9 B on Five Prime to Boost Cancer Pipeline
Michelle Liu
Abstract
In its largest M&A deal since it paid US$10.4 B to takeover Onyx Pharmaceuticals in 2013, Amgen has agreed to acquire Five Prime Therapeutics to expand its portfolio of oncology drugs. Amgen will pay US$38 per share, which values Five Prime at US$1.9 B. The key driver of the deal is bemarituzumab, a Phase III-ready candidatefor the treatment for patients with gastric or gastroesophageal junction cancer.
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