Tuesday, April 10, 2012

Amgen to buy KAI Pharmaceuticals for $315M cash

Amgen Inc. will buy privately held KAI Pharmaceuticals Inc. of South San Francisco for $315 million cash.
It is the first Bay Area acquisition by the world’s largest biotech company (NASDAQ: AMGN), based in Thousand Oaks, since a slew of buyouts the previous decade.
KAI’s lead drug is in Phase II trials for hyperparathyroidism in patients with chronic kidney disease, but Amgen said it would provide a loan for planning of a Phase III trial prior to the deal closing.

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