Plus   Neg

Amgen To Additionally Invest $421 Mln In China's BeiGene

Amgen (AMGN) said it will additionally invest about $421 million in Chinese biotech company BeiGene's (BGNE) registered direct offering of ordinary shares. The investment maintains Amgen's current pro rata ownership of BeiGene at about 20.3%.

Amgen said the additional investment reflects its confidence in the progress the companies are making in their ongoing oncology collaboration in China.

Earlier today, Beigene said it plans to raise $2.08 billion in a direct offering of 145.84 million shares. The shares will be priced at $14.23 per share or $185 per American Depositary Share. The offering is expected to close on or around July 15.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Workplace technology company Xerox Holdings Corp. (XRX) reported Tuesday that net income for the third quarter declined to $90 million or $0.41 per share from $221 million or $0.68 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $0.48 per share, compared... While reporting financial results for the third quarter on Tuesday, Pfizer Inc. (PFE) tightened its full-year 2020 guidance range for adjusted earnings and revenues. However, the company reaffirmed all 2020 financial guidance components for New Pfizer and Upjohn. For fiscal 2019, the company now projects... Eli Lilly and Company (LLY) said it delivered solid financial results in the third quarter, as the company's key growth products continued to be the catalyst for volume-based revenue growth. On a non-GAAP basis, earnings per share increased 4 percent. Revenue rose 5 percent driven by volume growth of...
Follow RTT