Amgen Completes Acquisition of Tularik; Acquisition Enhances Amgen's Strong Research Organization and Establishes Amgen in the San Francisco Bay Area
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Aug. 13, 2004--Amgen Inc.
(Nasdaq:AMGN), the world's largest biotechnology company, today
announced the completion of the acquisition of Tularik Inc., a pioneer
in drug discovery related to cell signaling and the control of gene
expression. Final regulatory approvals were received in June and
Tularik stockholders approved Amgen's acquisition of the company
during a special meeting held yesterday.
"The completion of this acquisition underscores our commitment to
scientific excellence and innovation through the expansion of our
internal drug discovery research capabilities," said Roger M.
Perlmutter, M.D., Ph.D., executive vice president research and
development of Amgen. "We welcome the Tularik staff into our
organization and are confident that our combined research capacity
will help patients by advancing important treatments for serious
Pursuant to the merger agreement announced on March 29, 2004,
Amgen will exchange Tularik common stock for Amgen common stock in a
tax-free transaction. Tularik stockholders will be entitled to 0.451
shares of Amgen common stock for each share of Tularik common stock
held. Any fractional shares will be paid in cash. A total of
approximately 24 million Amgen shares will be issued as consideration.
"We are truly looking forward to being a part of Amgen," said
David V. Goeddel, Ph.D., founder and chief executive officer of
Tularik and now part of the Amgen leadership team. "I'd like to thank
the Tularik staff for their hard work, dedication and continued
commitment during this important transition."
Amgen is a global biotechnology company that discovers, develops,
manufactures and markets important human therapeutics based on
advances in cellular and molecular biology.
This news release contains forward-looking statements that involve
significant risks and uncertainties, including those discussed below
and others that can be found in our Form 10-K for the year ended
December 31, 2003, and in our periodic reports on Form 10-Q and Form
8-K. Amgen is providing this information as of the date of this news
release and does not undertake any obligation to update any
forward-looking statements contained in this document as a result of
new information, future events or otherwise.
No forward-looking statement can be guaranteed and actual results
may differ materially from those we project. The Company's results may
be affected by our ability to successfully market both new and
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recently launched products, difficulties or delays in manufacturing
our products, and regulatory developments (domestic or foreign)
involving current and future products and manufacturing facilities. In
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domestic and international trends toward managed care and healthcare
cost containment as well as possible US legislation affecting
pharmaceutical pricing and reimbursement. Government regulations and
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of our products. Furthermore, our research, testing, pricing,
marketing and other operations are subject to extensive regulation by
domestic and foreign government regulatory authorities. We, or others,
could identify side effects or manufacturing problems with our
products after they are on the market. In addition, we compete with
other companies with respect to some of our marketed products as well
as for the discovery and development of new products. Discovery or
identification of new product candidates cannot be guaranteed and
movement from concept to product is uncertain; consequently, there can
be no guarantee that any particular product candidate will be
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routinely obtain patents for our products and technology, the
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CONTACT: Amgen, Thousand Oaks
Christine Cassiano, 805-447-4587 (media)
Laura Biswas, 805-447-1060 (investors)
SOURCE: Amgen Inc.