Edition:
India

‍Kirin-Amgen joint venture to become wholly-owned subsidiary of Amgen​


Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Amgen Inc :‍Kirin-Amgen joint venture to become wholly-owned subsidiary of Amgen​.‍Under terms of agreement, ‍Kirin-Amgen joint venture will pay $780 million to Kirin​.‍Kirin-Amgen will become a wholly-owned subsidiary of Amgen​.‍Joint venture ‍Kirin-Amgen will redeem Kirin's shares ​.‍Will make additional payments to Kirin upon occurrence of certain sales​.‍As sole shareholder of ‍Kirin-Amgen, Amgen will own product rights and remaining cash held by ‍Kirin-Amgen .‍License agreements between ‍Kirin-Amgen and KHK in certain Asian territories will remain in place​.