Amgen, Inc. Pays GlaxoSmithKline plc (ADR) to Go Away

Amgen says goodbye to its Big Pharma partner.

Dave Williamson
Dave Williamson
Apr 3, 2014 at 8:42PM
Health Care

Amgen (NASDAQ:AMGN) has decided to pay off its Big Pharma partner GlaxoSmithKline (NYSE:GSK) in order to part ways on its international marketing agreement with the company over its drug Denosumab, also known as Prolia, in the treatment of osteoporosis. The cost of the termination for Amgen will be $290 million, and will be official by the year's end. While shares are down on the news, the Prolia franchise is expected to peak out close to $3.5 billion, suggesting that this arrangement will be more than fine for Amgen in the long run.

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