Pharma BD Deal Intelligence
Amgen Inc. completed its acquisition of Immunex Corporation on July 15, 2002, in a transaction valued at approximately $16 billion — the largest biotechnology merger at the time. Each Immunex share was exchanged for 0.44 Amgen shares plus $4.50 in cash. The deal followed FTC clearance, which required Amgen to divest Leukine to Schering AG and license TNF-inhibitor intellectual property to Serono, and brought the rheumatoid-arthritis biologic Enbrel (etanercept) into Amgen's portfolio.