Both Amgen and Kirin Holdings have agreed that Kirin-Amgen’s, Kirin shares will be bought by Amgen making Kirin- Amgen a wholly- owned subsidiary of Amgen. Established in 1984 as a 50-50 joint venture between Amgen and Kirin to fund the development of EPOGEN® (epoetin alfa) and later NEUPOGEN®(filgrastim), Neulasta® (pegfilgrastim), Aranesp® (darbepoetin alfa), Nplate® (romiplostim) and brodalumab. Kirin-Amgen also holds the intellectual property of these products and licensed the associated marketing rights in certain Asian countries to Kyowa Hakko Kirin (KHK), Kirin’s pharmaceutical subsidiary while other territories to Amgen.
According to Robert A.Bradway, Chairman and CEO at Amgen:
“Our historic partnership with Kirin played a pivotal role in the growth of Amgen from a small, venture-backed start-up to one of the world’s largest biotechnology companies. I would like to thank Kirin for more than three decades of partnership, which has enabled us to reach patients suffering from serious illness around the world with meaningful therapies. We look forward to continuing what has been Amgen’s longest-running collaboration through our ongoing relationship with KHK.”
Kirin is supposed to receive $780 million from Kirin-Amgen, according to the terms of agreement and Amgen is expected to make additional payments to Kirin upon occurrence of certain sales which is expected to be around $30 million. However, Amgen will own the product rights for the deal which is expected to close in the first quarter of 2018 if not earlier.
The exclusive financial advisor to Amgen in connection to this deal is Goldman Sachs & Co.LLC.
The world’s largest biotech company, Amgen, was established in the 1980 to provide patients suffering from serious illness by discovering, developing, manufacturing and delivering innovative human therapeutics. With the goal of extending the reach of science to unleash the body’s own powerful therapeutic responses, the researchers at Amgen harness the powerful tools of cellular and molecular biology and medicinal chemistry to discover develop and commercialize naturally occurring proteins, antibodies and small molecules.