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Amgen takes 20% stake in Chinese biotech BeiGene for $2.7 billion

from CNBC

Biotechnology company Amgen announced Oct. 31 it is investing $2.7 billion in BeiGene, taking a 20.5% stake in the Chinese biotech firm. BeiGene will commercialize some of Amgen’s cancer drugs to be sold on the Chinese market, the companies said in a statement. Amgen will also work with BeiGene on developing 20 new drugs from its cancer pipeline in China and elsewhere. The deal, expected to close in early 2020, increases Amgen’s footprint in China’s rapidly growing pharmaceutical market. more

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