Amgen to acquire deCode genetics

Amgen Inc. (NASDAQ:AMGN) will acquire genomics company deCode genetics ehf (Reykjavik, Iceland) for $415 million in cash. The deal, which has been approved by Amgen's board, is expected to close by year end. deCode provides genotyping, sequencing and data analysis capabilities, which Amgen said will allow it to enhance efforts to identify and validate disease targets to avoid investments in programs that are based on less well-validated targets.

deCode's publicly traded predecessor -- deCode genetics Inc. -- raised over $1.1 billion from the sale of debt and equity and from partnerships prior to filing for Chapter 11 bankruptcy in November 2009. The company's assets were bought and recapitalized as deCode genetics ehf in January 2010 by Saga Investments LLC. Amgen declined to disclose whether the acquisition price includes any outstanding deCode debt (see BioCentury, Dec. 7, 2009). ...