Amgen To Acquire Biovex For $425M

Biotechnology company,Amgen, will buyBiovex Groupfor $425 million,Bloombergreports. Thousand Oaks-based Amgen will pay $425 million in cash, plus up to $575 million more if BioVex hits some regulatory and sales milestones.

The deal, which has been approved by the boards of directors of both companies, will close in the first quarter of this year. BioVex will become a wholly owned Amgen subsidiary, addsBusiness Journal.

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