BRIEF—Amgen takes JV fully under its wing in $780 million swoop

Amgen has taken sole control of a joint venture (JV) that has driven the development of a host of big-selling drugs.

The Kirin-Amgen JV will redeem Kirin Holdings’ shares in the venture and, as a result, Kirin-Amgen will become a wholly-owned subsidiary of the US biotech.

Kirin-Amgen was established in 1984 as a 50-50 joint venture between Amgen and Kirin to fund the global development of Epogen (epoetin alfa). Over time, the scope of the collaboration was expanded to include Neupogen (filgrastim), Neulasta (pegfilgrastim), Aranesp (darbepoetin alfa), Nplate (romiplostim) and brodalumab.

Kirin-Amgen holds the intellectual property for each of these products and, in exchange for royalty rights, licensed the associated marketing rights in certain Asian countries to Kyowa Hakko Kirin, Kirin's pharmaceutical subsidiary, and in other territories to Amgen.

Under the terms of the agreement, the JV will pay $780 million to Kirin. Amgen will make additional payments to Kirin upon the occurrence of certain sales, valued at around $30 million.