The Life Sciences team advised BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160) on its agreement to sell $2.7 billion in shares to Amgen NASDAQ: AMGN) as part of a global strategic oncology collaboration for the commercialization and development in China of Amgen’s XGEVA® (denosumab), KYPROLIS® (carfilzomib), and BLINCYTO® (blinatumomab), and the joint global development of 20 oncology assets in Amgen’s pipeline, with BeiGene responsible for development and commercialization in China.
BeiGene is a global, commercial-stage, research-based biotechnology company focused on molecularly-targeted and immuno-oncology cancer therapeutics. Amgen is one of the world’s leading biotechnology companies.
Amgen will purchase a 20.5% stake in BeiGene for approximately $2.7 billion in cash at $174.85 per American Depositary Share (ADS), a 36% premium to BeiGene’s 30-day volume-weighted average share price as of October 30, 2019.
The Goodwin team was led by partner Edwin O’Connor and included partners Mitchell Bloom, Jim Matarese, Deb Birnbach, Caroline Bullerjahn and Annie Railton, counsel Nicole Daley and Kara Kuritz, associate Marishka DeToy, and law clerk Wenlan Geng.