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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amgen    AMGN

AMGEN

(AMGN)
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Amgen : to Buy Danish Biotech Nuevolution for $167 Million

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05/22/2019 | 06:45am EDT

By Colin Kellaher

Amgen on Wednesday said it plans to buy Danish biotechnology company Nuevolution AB for about $167 million in cash.

The Thousand Oaks, Calif., biotechnology company said it will offer 32.50 Swedish kroner in cash for each share of Nuevolution, a roughly 169% premium to Tuesday's closing price of SEK12.10.

Shares of Nuevolution surged to SEK32.20 on Wednesday.

Amgen said Nuevolution's board recommends the offer, adding that holders of about 59% of Nuevolution's shares have agreed to accept the deal. Amgen said the offer, which it will fund with cash on hand, will begin around June 13.

Amgen and Nuevolution formed a multi-target collaboration in October 2016, and Amgen has exercised its contractual opt-in right for two cancer programs under the agreement.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AMGEN -0.41% 202.72 Delayed Quote.4.14%
NUEVOLUTION AB (PUBL) -0.31% 32.4 Delayed Quote.90.59%
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Financials (USD)
Sales 2019 22 862 M
EBIT 2019 10 931 M
Net income 2019 7 772 M
Debt 2019 2 613 M
Yield 2019 2,86%
P/E ratio 2019 15,9x
P/E ratio 2020 15,1x
EV / Sales2019 5,43x
EV / Sales2020 5,12x
Capitalization 122 B
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Technical analysis trends AMGEN
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 217,09  $
Last Close Price 202,72  $
Spread / Highest target 19,9%
Spread / Average Target 7,09%
Spread / Lowest Target -14,7%
EPS Revisions
Managers
NameTitle
Robert A. Bradway Chairman & Chief Executive Officer
Esteban Santos Executive Vice President-Operations
David W. Meline Chief Financial Officer & Executive Vice President
David M. Reese Executive Vice President-Research & Development
Darryl Sleep Chief Medical Officer & Senior VP-Global Medical
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