Amgen

Biotech company to acquire Abgenix for $22.50 per share

Published in Law and Health Weekly, January 14th, 2006

Amgen (AMGN) and Abgenix, Inc., (ABGX) have signed a definitive merger agreement under which Amgen will acquire Abgenix for approximately $2.2 billion in cash plus the assumption of debt.

Under the terms of the agreement, shareholders of Abgenix will receive $22.50 in cash per common share.

The acquisition of Abgenix provides Amgen with full ownership of one of its most important advanced pipeline products, panitumumab. Working closely with Abgenix under a codevelopment agreement that Amgen assumed as a result of its acquisition of Immunex Corp. in 2002, Amgen has led the development and commercialization strategy for panitumumab.

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Source: Law and Health Weekly (2006-01-14)

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