January 26, 2012 at 13:30 PM EST
Amgen, Celgene, Roche Deals Signal M&A Frenzy for Drug Companies
Not even a full month into the new year it’s already apparent that 2012 is going to be a busy one for mergers and acquisitions among drug and biotechnology companies. Two of those deals were announced today. Biotech giant Amgen (AMGN) said it will buy cancer drug developer Micromet (MITI) for about $1.2 billion. Meanwhile Celgene (CELG) says it will acquire its own oncology specialist closely held Avila Therapeutics for $350 million. (Celgene agreed to pay up to $575 million more if certain milestones are achieved.) Both deals will be paid in cash. The announcements follow this week’s ...
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