Amgen to buy $2.7 billion stake in Chinese biotech
U.S. drugmaker Amgen Inc. said it is buying a roughly 20% stake in a Chinese biotechnology company for $2.7 billion in cash, further demonstrating China’s emergence as a key market for foreign pharmaceutical companies. Amgen said BeiGene Ltd., a Beijing-based company focused on oncology, is going to commercialize certain Amgen treatments in China and will split those earnings or losses. […]
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