Amgen purchases additional Regeneron securities.THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. , Calif.--(BUSINESS WIRE)--April 16, 1996--Amgen (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMGN) Tuesday announced that it has purchased 3 million shares of Regeneron Pharmaceuticals Inc. common stock along with warrants to purchase an additional 700,000 shares (with an exercise price of $16 per share) for a total purchase price of $48 million. This share purchase brings Amgen's holdings in Regeneron to slightly more than 4.4 million shares, representing more than 17 percent of Regeneron's total outstanding shares. Exercise of the warrants would bring Amgen's holdings to just under 20 percent, based on the current number of shares outstanding and the issuance of the warrant shares. Amgen and Regeneron are developing two product candidates currently in clinical trials, brain-derived neurotrophic factor Brain-derived neurotrophic factor (BDNF) is a neurotrophic factor found in the brain and the periphery. It is a protein that acts on certain neurons of the central nervous system and the peripheral nervous system that helps to support the survival of existing neurons and encourage (BDNF BDNF Brain-Derived Neurotrophic Factor BDNF Beaverhead-Deerlodge National Forest (Montana) ) and neurotrophin-3 (NT-3). ``We continue to believe that BDNF and NT-3 are attractive product candidates. This investment enables Amgen to realize more of the value from these product candidates by increasing our stake in Regeneron,'' said Gordon Binder, Amgen's chairman and chief executive officer. Amgen is a global biotechnology company that discovers, develops, manufactures and markets human therapeutics based on advanced cellular and molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller . CONTACT: Amgen, Thousand Oaks David Kaye, 805/447-6692 (media) Denise Powell, 805/447-4346 (investors) |
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