Summary
BeOne Medicines Ltd. (ONC) announced the significant closing of its strategic collaboration with Amgen Inc. on January 2, 2020. This collaboration centers on Amgen's oncology assets, with BeOne gaining rights to commercialize XGEVA®, KYPROLIS®, and BLINCYTO® in China. Additionally, BeOne and Amgen will jointly develop 20 Amgen oncology pipeline products, with BeOne leading development activities in China. Concurrent with this collaboration, Amgen acquired a substantial stake in BeOne, purchasing approximately 20.5% of the company's outstanding shares for $2.78 billion. This strategic investment underscores Amgen's confidence in BeOne's capabilities and the value of the Chinese market. The company also appointed Mr. Anthony C. Hooper as a new Class III director, a move linked to Amgen's investment and strategic partnership, bringing extensive industry experience to the board.
Key Highlights
- 1BeOne Medicines Ltd. closed a major strategic collaboration with Amgen Inc. on January 2, 2020.
- 2BeOne will commercialize Amgen's oncology products XGEVA®, KYPROLIS®, and BLINCYTO® in China.
- 3Joint development of 20 Amgen oncology pipeline products, with BeOne focusing on China development.
- 4Amgen acquired approximately 20.5% of BeOne's outstanding shares for $2.78 billion.
- 5Amgen's investment was made through the purchase of 15,895,001 American Depositary Shares (ADSs).
- 6Mr. Anthony C. Hooper, formerly of Amgen, was appointed as a new Class III director.
- 7The appointment of Mr. Hooper is linked to Amgen's investment and strategic partnership.