Amgen to Acquire ChemoCentryx for $4 Billion
August 4, 2022
Amgen and ChemoCentryx entered into a definitive agreement under which Amgen will acquire ChemoCentryx for $52 per share in cash, representing an enterprise value of approximately $3.7 billion.
“The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with Tavneos, a transformative, first-in-class treatment for ANCA-associated vasculitis,” said Robert Bradway, chairman and CEO at Amgen.
Tavneos is an orally administered selective complement component 5a receptor inhibitor. It was approved by the U.S. Food and Drug Administration in October 2021 as an adjunctive treatment for adult patients with severe active ANCA-associated vasculitis, specifically granulomatosis with polyangiitis (GPA) and microscopic polyangiitis (MPA) (the two main forms of ANCA-associated vasculitis), in combination with standard therapy.
ANCA-associated vasculitis is an umbrella term for a group of multi-system autoimmune diseases with small vessel inflammation. Inflamed vessels may rupture or become occluded giving rise to a broad array of clinical symptoms and signs related to a systemic inflammatory response which may result in profound injury and dysfunction in the kidneys, lungs, and other organs.
U.S. sales of Tavneos in the first quarter of 2022, the first full quarter of sales, were $5.4 million. Tavneos is also approved in major markets outside the United States, including the European Union and Japan. Vifor Fresenius Medical Care Renal Pharma will retain exclusive rights to commercialize Tavneos outside the United States, except in Japan where Kissei Pharmaceutical holds commercialization rights and Canada where Otsuka Canada Pharmaceutical holds commercialization rights.
ChemoCentryx is also developing Tavneos for the treatment of patients with C3 glomerulopathy (C3G), severe hidradenitis suppurativa (HS) and lupus nephritis (LN). The U.S. Food and Drug Administration granted Tavneos orphan drug designation for ANCA-associated vasculitis and C3G. The European Commission has granted orphan medicinal product designation for Tavneos for the treatment of two forms of ANCA-associated vasculitis: microscopic polyangiitis and granulomatosis with polyangiitis (formerly known as Wegener’s granulomatosis), as well as for C3G.
In addition to Tavneos, ChemoCentryx has three early-stage drug candidates that target chemoattractant receptors in other inflammatory diseases and an oral checkpoint inhibitor for cancer.
The transaction has been unanimously approved by each company’s board of directors. The transaction is subject to ChemoCentryx stockholder approval, regulatory approvals, and other customary closing conditions, and is expected to close in the fourth quarter of 2022.
Author: Rare Daily Staff
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