Amgen looking for acquisitions

Feb 11, 2018

Financial Times

Amgen says it is “looking hard” for a deal, but is struggling to find the right target, reports Financial Times.

The drugmaker says it has refrained from bidding on recent deals because it hasn’t been able to come up with a business case that would yield a return for shareholders.

“We want to deploy any excess cash and our first priority is to do acquisitions and invest in the business,” David Meline, Amgen’s CFO, told the Financial Times.

Meline added that Amgen has a lot of “financial flexibility” -- $27bn of available cash -- and will continue to keep looking.

Read the Financial Times article