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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 diseases."
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 existing products domestically and internationally, sales growth of 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 addition, sales of our products are affected by reimbursement policies imposed by first party payors, including governments, private insurance plans and managed care providers, and may be affected by 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 reimbursement policies may affect the development, usage and pricing 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 successful and become a commercial product. In addition, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors. Further, some raw materials, medical devices, and component parts for our products are supplied by sole first party suppliers.
EDITOR'S NOTE: An electronic version of this news release may be accessed via our Web site at www.amgen.com. Journalists and media representatives may sign up to receive all news releases electronically at time of announcement by filling out a short form in the Media section of the Web site.
CONTACT: Amgen, Thousand Oaks Christine Cassiano, 805-447-4587 (media) Laura Biswas, 805-447-1060 (investors) SOURCE: Amgen Inc.