Amgen To Acquire deCODE

Amgen has entered into a definitive agreement to acquire deCODE Genetics for $415 million in cash. Headquartered in Reykjavik, Iceland, deCODE Genetics provides expertise in analyzing and understanding the link between the genome and disease susceptibility and has discovered genetic risk factors for diseases ranging from cardiovascular disease to cancer. The transaction, subject to customary closing conditions, is expected to close before the end of the year.
 
“deCODE Genetics has built a world-class capability in the study of the genetics of human disease,” said Robert A. Bradway, Amgen’s president and chief executive officer. “This capability will enhance our efforts to identify and validate human disease targets.  This fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programs based on less well-validated targets.”
 
“One of the ways to truly realize the full value of human genetics, is to make our research synergistic with drug development efforts where target discovery, validation and prioritization efforts can be accelerated,” said Kari Stefansson, M.D., Dr. Med., founder and chef executive officer of deCODE Genetics.  “We believe Amgen’s focus and ability to incorporate our genetic research into their research and development efforts will translate our discoveries into meaningful therapies for patients.”