Amgen sees Tavneos as growth opportunity with $4B ChemoCentryx buyout
With patent expirations ahead, deal gives Amgen immunology asset approved for vasculitis indication, with potential for label expansions
Amgen believes its commercial team can quicken uptake of vasculitis drug Tavneos now that the company has a $4 billion deal in place to acquire ChemoCentryx, the biotech that gained its approval last fall.
Amgen Inc. (NASDAQ:AMGN) will pay $52 per share, more than twice the value at Wednesday’s close of ChemoCentryx Inc. (NASDAQ:CCXI), to bring the biotech’s 25-year history as a stand-alone company to a close. The price is 23% higher than ChemoCentryx’s 52-week high of $42.16 in October, before shares surged above that mark Thursday...