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Amgen agrees purchase of Iceland's deCODE Genetics.

MANews-(C)2009-2012

11 December 2012 a[euro]" US biotechnology company Amgen Inc (NASDAQ:AMGN) has signed a definitive agreement for the acquisition of Icelandic human genetics specialist deCODE Genetics Inc.

The change in ownership will be effected through an all-cash deal worth USD415m (EUR231m), the buyer said.

The transaction has received unanimous approval from Amgena[euro](tm)s board and is seen as closing before the start of 2013. Amgen said that no regulatory clearance was required for the deal to be wrapped up.

Amgena[euro](tm)s president and chief executive Robert A. Bradway described deCODE as a preeminent force in the field of human genetics, with capabilities that would help Amgen achieve its objectives in the identification and validation of human disease targets. With the addition of deCODE, Amgen is making the right move in the pursuit of its goal to develop relevant medicines fast and avoid getting involved in projects with less chance of success, Bradway said.Country: IcelandSector: BiotechnologyTarget: deCODE Genetics IncBuyer: Amgen IncDeal size in USD: 415mType: Corporate acquisitionStatus: Agreed

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Publication:M & A Navigator
Date:Dec 10, 2012
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