Shares of Amgen, Inc. (NASDAQ:AMGN) ended Friday session in green amid volatile trading. The shares closed up +1.36 points or 0.82% at $166.81 with 3,999,620 shares getting traded. Post opening the session at $166.38, the shares hit an intraday low of $165.26 and an intraday high of $167.72 and the price vacillated in this range throughout the day. The company has a market cap of $125.86 billion and the numbers of outstanding shares have been calculated to be 748.36 million shares.
On Sept. 29, 2016 Amgen (AMGN) and Arrowhead Pharmaceuticals Inc. (ARWR) announced two license and collaboration agreements to develop and commercialize RNA interference (RNAi) therapies for cardiovascular disease. These are the first programs to utilize Arrowhead’s proprietary subcutaneous RNAi delivery platform. RNAi molecules may be designed to target and shut down specific gene products that contribute to various diseases.
Under one agreement, Amgen receives a worldwide, exclusive license to Arrowhead’s novel, RNAi ARC-LPA program. These RNAi molecules are designed to reduce elevated lipoprotein(a), which is a genetically validated, independent risk factor for atherosclerotic cardiovascular disease. Under the second agreement, Amgen receives an option to a worldwide, exclusive license for a RNAi therapy for an undisclosed genetically validated cardiovascular target. In both agreements, Amgen will be wholly responsible for clinical development and commercialization.
Under the terms of the agreements taken together, Arrowhead will receive $35 million in upfront payments; $21.5 million in the form of an equity investment by Amgen in Arrowhead common stock; and up to $617 million in option payments, and development, regulatory and sales milestone payments. Arrowhead is further eligible to receive single digit royalties for sales of products against the undisclosed target and up to low double digit royalties for sales of products under the ARC-LPA agreement. Additional financial terms of the agreements are not disclosed.
“Arrowhead’s expertise in RNAi makes them a valuable partner as we translate genetic discoveries into potential therapies that can improve health outcomes for patients,” said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. “This collaboration builds upon our commitment to cardiovascular disease with targets that we believe are uniquely suited for RNAi-based therapy.”
Shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) ended Friday session in green amid volatile trading. The shares closed up +2.48 points or 2.07% at $122.54 with 1,892,733 shares getting traded. Post opening the session at $120.11, the shares hit an intraday low of $119.23 and an intraday high of $123.05 and the price vacillated in this range throughout the day. The company has a market cap of $28.05 billion and the numbers of outstanding shares have been calculated to be 224.25 million shares.
Alexion Pharmaceuticals, Inc. (ALXN) on September 23, 2016 announced that more than 1,500 employees around the world are volunteering in their respective communities as part of the Company’s first Global Day of Service. For this inaugural event, Alexion employees are partnering with local non-profit organizations to participate in service projects focused on improving health, wellness, and education in 30 of the Company’s local communities across North America, Europe, Latin America, Asia, and Australia.
“At Alexion, one of our core values is to change the world for patients suffering from devastating and rare diseases by discovering, developing, and delivering life-changing therapies,” said David Hallal, Chief Executive Officer of Alexion. “Global Day of Service demonstrates our values in action as we join together to have a lasting impact on the communities around the world where we live and work.”