BGNE stock is on roll after Amgen Inc. (NASDAQ:AMGN) announced that it is investing around $2.7 billion in Chinese biotech company BeiGene Ltd (NASDAQ:BGNE). The company will take a 20.5% stake in the drug developer. This is a deal that will see BeiGene develop and commercialize Amgen’s experimental and on-market cancer medicines in China.
BeiGene to Commercialize Amgen Cancer Drugs in ChinaThis all-cash deal will see Amgen pay $174.85 per American depositary receipt, which will be a 25% premium on the stock’s closing price on Wednesday. Following the announcement, BGNE stock jumped 7% on Thursday ...
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