Amgen completes $1.9B acquisition of Five Prime Therapeutics

  • Amgen (NASDAQ:AMGN) announces that it has completed its previously announced tender offer to purchase all outstanding shares of Five Prime Therapeutics (NASDAQ:FPRX) in a deal valued at ~$1.9B.
  • "Five Prime fits squarely within Amgen 's leading oncology portfolio and includes bemarituzumab, a Phase 3 trial-ready, first-in-class program for gastric cancer, the third leading cause of cancer mortality worldwide," Amgen 's CEO Robert Bradway said.
  • The company also said it plans to quickly move bemarituzumab into a Phase 3 study.
  • Following the completion of the tender offer, Franklin Acquisition Sub, a wholly owned subsidiary of Amgen , merged with and into Five Prime, with Five Prime surviving the merger, Amgen said.

    Over the current book year the total revenue will be 26.43 billion USD (consensus estimates). This is slightly more than 2020's revenue of 25.42 billion USD.

    Historical revenues and results Amgen plus estimates 2020


    The analysts expect for 2021 a net profit of 9.7 billion USD. For this year most of the analysts expect a profit per share of 16.81 USD. The price/earnings-ratio is then 15.39.

    For this year the analysts expect a dividend of 6.93 USD per share. Thus the dividend yield equals 2.68 percent. The average dividend yield of the biotech companies is an attractive 1.97 percent.

    Most recent target prices around 239 USD

    The most recent recommendations for the biotech company are from JP Morgan, UBS and Citigroup .

    Based on the current number of shares Amgen 's market capitalization equals 153.04 billion USD. The Amgen stock was the past 12 months quite unstable. Since last April the stock is 16 percent higher. This year the stock price moved between 210 and 277 dollar.

    Historical stock prices Amgen

    stock amgen

    On Wednesday the stock closed at 258.78 USD. Nieuwsdienst: +31 084-0032-842

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