Amgen and Servier Collaborate Over Cardiovascular Disease (AMGN)
Biopharmaceutical company Amgen, Inc. (AMGN) announced on Tuesday that it has entered into an agreement to collaborate with Servier over cardiovascular disease.
The agreement will allow Amgen to work with Servier’s novel oral drug, which is currently used in the EU as Procoralan® for chronic heart failure. Amgen also received the right to develop and commercialize Servier’s investigational molecule, S38844. Servier now has rights to commercialize omecamtiv mecarbil in the EU.
Amgen will pay a $50 million payment to Servier for the use of ivabradine under the agreement.
Amgen shares were mostly flat during Tuesday morning trading. The stock is up 14% YTD.
The Bottom Line
Shares of Amgen, Inc. (AMGN) have a 1.90% yield based on Tuesday morning’s price of $98.92.
Amgen, Inc. (AMGN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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