Amgen Inc. reports developments across its biotechnology medicines business, including discovery, development, manufacturing and delivery of human therapeutics. Company updates center on a portfolio and pipeline spanning cancer, inflammatory conditions, rare diseases, heart disease, obesity and obesity-related conditions, with named products and programs such as TEPEZZA, Repatha and IMDELLTRA appearing in clinical and commercial announcements.
Recurring news also covers quarterly financial results, non-GAAP performance measures, manufacturing network investments, supply-chain capacity, research collaborations, medical and investor conference presentations, and executive or organizational changes tied to the integration of biology, technology, artificial intelligence and data across Amgen's operations.
Amgen has completed its acquisition of Five Prime Therapeutics for $1.9 billion, paying $38.00 per share. The merger integrates Five Prime's immuno-oncology assets into Amgen's oncology portfolio, notably the bemarituzumab program for gastric cancer. This adds to Amgen's capabilities in treating cancers prevalent in regions like Japan and Latin America. Amgen accepted 87.8% of Five Prime's shares, leading to its delisting from NASDAQ. The acquisition aims to enhance patient solutions and align with Amgen's growth strategy in oncology.
Amgen has announced an agreement to acquire Rodeo Therapeutics Corporation for an upfront payment of $55 million and potential milestone payments up to $666 million. Rodeo specializes in small-molecule therapies for tissue regeneration, particularly focusing on the 15-PGDH program, which aligns with Amgen's inflammation portfolio. The acquisition is expected to enhance Amgen's capabilities in developing novel therapies for inflammatory diseases. Both companies' boards have approved the transaction, which positions Amgen to leverage Rodeo's promising preclinical data.
Amgen (NASDAQ:AMGN) will present at the virtual Oppenheimer 31st Annual Healthcare Conference on March 16, 2021, at 2:30 p.m. ET. David M. Reese, M.D., Amgen's executive vice president of Research and Development, will lead the presentation. Interested parties can access the live audio broadcast via Amgen's website along with other investor and medical conference presentations. The event's webcast will be archived for 90 days. Amgen focuses on developing innovative therapeutics to address serious medical needs, utilizing advanced human genetics to enhance health outcomes.
Amgen and Five Prime Therapeutics announced an acquisition agreement where Amgen will acquire Five Prime for $38.00 per share, totaling an equity value of approximately $1.9 billion. This strategic acquisition aims to enhance Amgen's oncology portfolio with Five Prime's innovative therapies, particularly the bemarituzumab antibody, which shows promise in treating advanced gastric cancer. The transaction is projected to close by the end of Q2 2021, subject to customary conditions.
Amgen (NASDAQ:AMGN) declared a $1.76 per share dividend for Q2 2021, set to be paid on June 8, 2021, to stockholders of record by May 17, 2021. The company highlights its commitment to developing innovative therapies focusing on high unmet medical needs. Amgen's legacy in biotechnology since 1980 has positioned it among leading independent biotech firms, striving for improved health outcomes globally.
Amgen announced that data from a Phase 3 study published in JAMA highlights the efficacy of BLINCYTO (blinatumomab) in pediatric patients with high-risk B-cell precursor acute lymphoblastic leukemia (B-ALL). After a median follow-up of 22.4 months, 69% of patients treated with BLINCYTO were alive and event-free, compared to 43% with chemotherapy. The 36-month overall survival rate was 81.1% for BLINCYTO versus 55.8% for chemotherapy. Serious adverse events were significantly lower in the BLINCYTO group (24.1% vs. 43.1%). These results suggest BLINCYTO may be a new standard of care for this aggressive disease.
Amgen and AstraZeneca announced positive results from the NAVIGATOR Phase 3 trial for tezepelumab as a potential first-in-class treatment for severe asthma. The trial demonstrated a 56% reduction in the annualized asthma exacerbation rate (AAER) when added to standard care over 52 weeks compared to placebo (p<0.001). Key secondary endpoints also showed significant improvements in lung function and quality of life. There were no significant safety differences between tezepelumab and placebo. Tezepelumab is a promising option for patients with severe asthma, regardless of eosinophil count.
Amgen (NASDAQ:AMGN) will participate in the Cowen 41st Annual Virtual Healthcare Conference on March 4, 2021, at 12:50 p.m. ET. Presenters include Murdo Gordon, EVP of Global Commercial Operations, and Peter H. Griffith, CFO. The presentation will be accessible live via Amgen's website and available as a replay for at least 90 days. Amgen is dedicated to developing innovative therapies for serious illnesses through advanced genetics and biotechnology. The company aims to address high unmet medical needs and improve health outcomes globally.
Amgen will host a webcast for investors on February 26, 2021, at 1:00 p.m. ET, during the 2021 American Academy of Allergy, Asthma & Immunology (AAAAI) Annual Meeting. The call will feature David M. Reese, M.D., discussing the tezepelumab Phase 3 NAVIGATOR study results for severe asthma patients, alongside clinical trial investigators. The live audio will be accessible via Amgen's website, with an archive available for 90 days post-event. Amgen focuses on innovative therapeutics and addressing significant medical needs.
Amgen announced the submission of a supplemental New Drug Application (sNDA) for Otezla (apremilast) to the FDA for treating adults with mild-to-moderate plaque psoriasis. The submission is based on positive Phase 3 ADVANCE trial results, showing statistically significant improvement in the primary endpoint over placebo. The study involved 595 patients, with Otezla demonstrating effectiveness in various secondary endpoints. Otezla is already approved for moderate-to-severe plaque psoriasis and has been used by over 250,000 patients in the U.S. since its 2014 approval.