Amgen working with BeiGene to have a stronger oncology portfolio
Amgen collaborating with BeiGene to expand its presence in China
Amgen has announced the collaboration with BeiGene to develop oncology drugs. Amgen expects to broaden its oncology portfolio and presence in China, the second-largest pharmaceutical market.
BeiGene is a commercial-stage research-based oncology company.
"There continues to be a substantial unmet medical need in China, particularly for patients with cancer," said Robert A. Bradway, Amgen's chairman and chief executive officer.
Amgen acquired a 20.5% stake in BeiGene for $2.8 billion in cash. As per the agreement, Xgeva (denosumab), Kyprolis (carfilzomib), and Blincyto (blinatumomab) will be commercialized by BeiGene in China. Two products will be retained by Amgen, one after five years and the other for seven years. BioGene retains one product. In September 2019, Xgeva was launched in China. New Drug Applications for Kyprolis and Blincyto filed in China.
Amgen and BeiGene will collaborate to develop 20 innovative oncology pipeline products of Amgen. BeiGene will contribute up to $1.25 billion to advance the medicines; in return, Amgen will pay royalties to BeiGene. For the 20 products, BeiGene will assume commercial rights for seven years after the approval in China. After this period, Amgen will retain the rights of AMG510 and other products, whereas BeiGene will retain rights on six products. Until rights revert to Amgen, BeiGene and Amgen will equally share the profits and losses.
Amgen continues to commercialize non-oncology products in China. Repatha (evolocumab), an LDL cholesterol-lowering treatment, was the first Amgen product approved in China. Amgen expects the launch of other products in China including Prolia.