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Amgen Buys Ilypsa, Diversification Via Acquisition
Posted on 06/06/2007 05:54:46 | Link | Post Comment
by Jon C. Ogg
24/7 Wall St.
Amgen (AMGN) is paying a hefty sum to diversify its Aranesp and Epogen franchises. The company is acquiring developmental-stage Ilypsa, a biotech company based in San Francisco that focuses on kidney disease care, for some $420 million in cash. Ilypsa's lead drug candidate, ILY101, is a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis. ILY101 has completed Phase 2 trials in patients with CKD who are on hemodialysis.
After all of the problems the company is having on side effects from the Aranesp and Epogen franchises, you can hardly blame them for wanting to acquire their way into new treatments. It's obvious they will need to replace some of the lost business now and down the road. it also will be perhaps the first biotech to come undef ire if there is a major regime change or policy shift because of the attack on reimbursements to biotechs with no generics on the market.
Continue article at 247WallSt.com
BioHealth Investor.com
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24/7 Wall St.
Amgen (AMGN) is paying a hefty sum to diversify its Aranesp and Epogen franchises. The company is acquiring developmental-stage Ilypsa, a biotech company based in San Francisco that focuses on kidney disease care, for some $420 million in cash. Ilypsa's lead drug candidate, ILY101, is a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis. ILY101 has completed Phase 2 trials in patients with CKD who are on hemodialysis.
After all of the problems the company is having on side effects from the Aranesp and Epogen franchises, you can hardly blame them for wanting to acquire their way into new treatments. It's obvious they will need to replace some of the lost business now and down the road. it also will be perhaps the first biotech to come undef ire if there is a major regime change or policy shift because of the attack on reimbursements to biotechs with no generics on the market.
Continue article at 247WallSt.com
BioHealth Investor.com
____________________
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