Sullivan Helps Amgen In $1.2B Micromet Buy

Law360, New York (January 26, 2012, 12:31 PM EST) -- Biotech giant Amgen Inc. will purchase cancer specialist Micromet Inc. for $1.16 billion in cash, the buyer announced Thursday, touting a novel tumor treatment as part of the deal.

California-based Amgen said it would pay $11 per share for Maryland-based Micromet, a price unanimously approved by both companies' boards of directors.

"The acquisition of Micromet is an opportunity to acquire an innovative oncology asset with global rights and a validated technology platform with broad potential clinical applications," Amgen CEO Kevin Sharer said.

Amgen said one of...
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