Amgen to Acquire Tularik for $1.3 Billion
By Biotechdaily staff writers
Posted on 14 Apr 2004
In a move that will strengthen the company's research capabilities and add five new drug candidates, Amgen Inc. (Thousand Oaks, CA, USA) has agreed to acquire Tularik, Inc. (South San Francisco, CA, USA) for U.S.$1.3 billion in stock.Posted on 14 Apr 2004
The acquisition teams the world's largest biotechnology company with a pioneer in drug discovery related to cell signaling and the control of gene expression. Tularik will become a wholly owned subsidiary of Amgen. As a result of the acquisition, Amgen will add Tularik's five novel clinical programs, which include potential treatments for cancer as well as potential treatments for inflammatory disease, type 2 diabetes, and obesity.
"Amgen is excited about combining with Tularik, a high-science company that is focused on grievous illnesses and that shares our culture,” said Kevin Sharer, chairman and CEO of Amgen. "We are particularly pleased to have David Goeddel, a pioneer in biotechnology, join Amgen in a senior role.”
Upon the closing of the transaction, Dr. Goeddel, founder and CEO of Tularik, will become site head of Amgen San Francisco, overseeing its research projects on an ongoing basis as well as assisting in the strategic direction of Amgen's pipeline.
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