Amgen is acquiring a premium stake in BeiGene (BGNE), one of the largest cancer-focused drug companies in China, for $2.7 billion as part of a broad commercial and drug development partnership, both companies announced Thursday.

The California-based biotech joins a long list of American firms seeking to tap the pharmaceutical market in China, which is said to have as many cancer patients as the U.S. and Europe combined.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • Online intelligence briefings
  • Frequent opportunities to engage with veteran beat reporters and industry experts
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.

Leave a Comment

Please enter your name.
Please enter a comment.

  • Both China and the US are global powerhouse entities in R & D. Collaboration and joining forces makes sense, when paranoidal “national security” on either side finally abates. For cancer research and drug development this is a boon. Of course enormous profit increase potential for Amgen matters. And China, swimming in money from ever increasing drug production (among others), is buying up mines, expanding its economic powers (the Silk Road etc). It is very capitalistic but this is shielded under the guise of government-enforced communism. How far will this stretch?

  • An American-like headline in China:

    American company, with ties to the government, infiltrate Chinese Biotech to steal intellectual property