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Home Industry News Amgen to acquire deCODE Genetics

Amgen to acquire deCODE Genetics

12th December 2012

Amgen has announced the acquisition of deCODE Genetics, an Icelandic business that specialises in analysing and understanding the link between the genome and disease susceptibility.

The deal has been valued at $415 million (257.06 million pounds) and is expected to close before the end of 2012, having been unanimously approved by the Amgen board of directors.

Founded in 1996, deCODE Genetics has been responsible for the discovery of genetic risk factors for dozens of diseases, ranging from cardiovascular conditions to cancer.

By purchasing the company, Amgen will be able to enhance its capability for identifying and validating human disease targets.

Robert Bradway, president and chief executive officer at Amgen, said the takeover "fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programmes based on less well-validated targets".

This comes after the company completed the acquisitions of KAI Pharmaceuticals and Mustafa Nevzat Pharmaceuticals earlier this year.ADNFCR-8000103-ID-801505156-ADNFCR

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