Amgen’s $3.7bn ChemoCentryx Buy May Help Offset Growing Pains
Big Biotech’s Q2 Revenue Was 1% Above Consensus
Amgen is acquiring a pipeline-in-a-pill with ChemoCentryx’s Tavneos, currently approved for ANCA-associated vasculitis, at a time when the company’s existing portfolio is struggling to maintain sales growth.
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The company launched Amjevita on the same day it announced fourth quarter 2022 earnings and provided 2023 guidance, upping the high-profile nature of the first-to-market US Humira biosimilar.
Human Immunology Biosciences (HI-Bio) launched with $120m and two candidates from MorphoSys, including the CD38 inhibitor felzartamab already in the clinic for immune-mediated kidney diseases.
Amgen’s latest deal shows the biotech major’s need to replenish its portfolios and also the cool heads required when negotiations get heated.