Sullivan & Cromwell Guides Amgen on $415M DeCODE Buy

Law360, Los Angeles (December 10, 2012, 7:07 PM EST) -- Biotechnology giant Amgen Inc. on Monday agreed to pay $415 million in cash to purchase Iceland-based gene research firm deCODE Genetics Inc. in an effort to boost Amgen’s efforts to identify genetic targets for disease treatment.

The Thousand Oaks, Calif.-based Amgen said the acquisition will help assist it in developing new genetics-based medicines that attack defective human genes. The deal doesn't require regulatory approval and is expected to close by the end of the year, the companies said.

Both companies portrayed the acquisition as being in...
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