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Amgen buys out Kyowa JV

November 30, 2017 11:21 PM UTC

In October, Amgen Inc. (NASDAQ:AMGN) and Kirin Holdings Co. Ltd. terminated their JV Kirin-Amgen, which now becomes a wholly-owned subsidiary of Amgen. Kirin is the parent company of Kyowa Hakko Kirin Co. Ltd. (Tokyo:4151).

Kirin will receive $780 million in exchange for its share in the JV. Amgen will own Kirin-Amgen's product IP and remaining cash. Kyowa will retain its Asian commercial rights to products developed under the JV, and is eligible for up to about $30 million from Amgen in sales milestones. ...

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