Amgen announced the successful closing of the transaction to enter into a strategic collaboration with BeiGene that will significantly accelerate Amgen's plans to expand its oncology presence in China.
BeiGene is a commercial-stage research-based oncology company with an established team in China, including an approximately 900-person commercial organization and 600-person clinical development organization.
Amgen pay $2.7 billion, according to the deal that was announced in October. As per the terms of the collaboration, BeiGene will assume responsibility for the commercialization and development in China of Amgen's three oncology medicines, Xgeva, Kyprolis and Blincyto, that have been approved or filed in China. BeiGene and Amgen will collaborate to advance 20 investigational oncology assets in Amgen's pipeline, with BeiGene leading development and commercialization in China.
Since 2011, Amgen has expanded its geographic presence from approximately 50 to 100 countries.
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