Amgen, Inc. Pays GlaxoSmithKline plc (ADR) to Go Away
Amgen has decided to pay off its Big Pharma partner GlaxoSmithKline in order to part ways on its international marketing agreement with the company over its drug Denosumab, also known as Prolia, in the treatment of osteoporosis. The cost of the termination for Amgen will be $290 million, and will be official by the year's end. While shares are down on the news, the Prolia franchise is expected to peak out close to $3.5 billion, suggesting that this arrangement will be more than fine for Amgen in the long run.
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The article Amgen, Inc. Pays GlaxoSmithKline plc (ADR) to Go Away originally appeared on Fool.com.David Williamson has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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