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Amgen to buy ChemoCentryx for $3.7 billion

(Reuters) - Amgen Inc (NASDAQ:AMGN) said on Thursday it would buy ChemoCentryx (NASDAQ:CCXI) Inc for $3.7 billion to gain access to the company's anti-inflammation drug. Amgen...
Amgen to buy ChemoCentryx for $3.7 billion © Reuters. FILE PHOTO: An Amgen sign is seen at the company's office in South San Francisco, California October 21, 2013. REUTERS/Robert Galbraith/File Photo

(Reuters) - Amgen Inc (NASDAQ:AMGN) said on Thursday it would buy ChemoCentryx (NASDAQ:CCXI) Inc for $3.7 billion to gain access to the company's anti-inflammation drug.

Amgen will pay $52 per share in cash, which represents a premium of nearly 116% to ChemoCentryx's closing price on Wednesday.

ChemoCentryx makes Tavneos, a drug approved to treat patients with a rare form of blood vessel inflammation. The therapy brought in sales of $5.4 million in the first full quarter since its launch.

The company has three drugs in early-stage trials to treat inflammatory diseases and is also developing a cancer drug.

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11-08-2022 08:50:32 (UTC+7)

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 EUR/USD1.0289Neutral
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 EUR/JPY136.96↑ Buy
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 Crude Oil WTI91.72Buy
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 US Coffee C220.78Sell
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 IBEX 358,352.80↑ Buy
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 Bayer51.90↑ Buy
 Allianz178.50↑ Buy
 Adidas173.36Neutral
 Lufthansa6.611↑ Buy
 Siemens AG109.18↑ Buy
 Deutsche Bank AG8.829Sell
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