On Thursday, Amgen (NASDAQ: AMGN) became the latest big drugmaker to announce an acquisition in 2021. The biotech giant told investors that it will acquire Five Prime Therapeutics (NASDAQ: FPRX) for $1.9 billion in cash.
Five Prime Therapeutics is a clinical-stage biotech that doesn't have any approved products for sale yet. Amgen is eager to acquire it now for access to bemarituzumab, a potential first-in-class treatment for stomach cancer.
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For further details see:
Amgen to Buy Oncology Start-Up Five Prime Therapeutics for $1.9 Billion