Press Release

THOUSAND OAKS, Calif. (Oct. 31, 2019) —— Amgen (NASDAQ:AMGN) announced today that it has entered into a strategic collaboration with BeiGene that will significantly accelerate Amgen’s plans to expand its oncology presence in China, the world’s second-largest pharmaceutical market. BeiGene is a research-based, oncology-focused biotechnology company with an established and highly experienced team 世界杯比赛时间 in China, including a 700-person commercial organization and a 600-person clinical development organization.

“This strategic collaboration with BeiGene will enable Amgen to serve significantly 世界杯比赛时间 more patients by expanding our presence in the 世界杯比赛时间 world’s 2026世界杯直播赛程 most populous country,” said Robert A. Bradway, Amgen’s chairman and chief 世界杯比赛时间 世界杯比赛时间 executive officer. “Cancer is a leading cause of death in China and will only become a more pressing public health issue as the Chinese population ages. With its extensive commercial and clinical capabilities 2026世界杯直播赛程 2026世界杯直播赛程 within China and a commitment to global quality standards, BeiGene is the ideal strategic collaborator as we seek to make a meaningful difference in the lives of millions of cancer patients in China and around the world.”

As part of the collaboration:

1.Amgen will acquire a 20.5% stake in BeiGene for approximately $2.7 billion in cash. This represents a purchase price of $174.85 per BeiGene American Depositary Share on NASDAQ, a 36% premium to BeiGene’s 30-day volume-weighted average share price as of Oct. 30, 2026世界杯直播赛程 2019. Amgen will nominate one person to 世界杯比赛时间 serve on BeiGene’s 世界杯比赛时间 Board of Directors.

2.Under the agreement, BeiGene will commercialize XGEVA^® (denosumab), KYPROLIS^®(carfilzomib) and BLINCYTO^® (blinatumomab) in China during which time the parties will equally share 世界杯比赛时间 2026世界杯直播赛程 profits and losses. Two of these products will revert to Amgen, 世界杯比赛时间 one after five years and one after seven years. Following the commercialization period, BeiGene will have the right to retain one product and will be entitled to receive royalties on sales in China for an additional five years on the products not retained. XGEVA was launched in China in September of this year; KYPROLIS and BLINCYTO are both in Phase 3 2026世界杯直播赛程 trials in China. 

3.Amgen and BeiGene will collaborate to advance 20 medicines 世界杯比赛时间 from Amgen’s innovative oncology pipeline in China and globally. BeiGene will share global 2026世界杯直播赛程 research and development costs and contribute up to $1.25 billion 世界杯比赛时间 to advance these medicines. Amgen will pay royalties to BeiGene on the sales of these products outside 世界杯比赛时间 of China, with the exception of AMG 510, Amgen’s first-in-class KRASG12C inhibitor that is being studied 世界杯比赛时间 世界杯比赛时间 世界杯比赛时间 as a potential treatment for solid tumors. Amgen anticipates utilizing data from clinical trials conducted in China to advance the development of its oncology portfolio globally.

4.Of the 20 oncology medicines in development, BeiGene 世界杯比赛时间 will assume commercial rights in China for seven years after launch for those that receive approval in China, including AMG 510. After this time, BeiGene will retain rights to up to six of these products in China, excluding AMG 510, while rights on remaining products revert to Amgen. Amgen and BeiGene will 2026世界杯直播赛程 share profits in China equally on these products until the 2026世界杯直播赛程 rights revert to Amgen, after which Amgen will pay 世界杯比赛时间 royalties to BeiGene on sales in China for a period of five years after reversion.

5.Amgen will continue to commercialize its non-oncology product portfolio in China. Earlier this year, Amgen launched its 2026世界杯直播赛程 first-ever product in China, Repatha^® (evolocumab), an LDL cholesterol-lowering treatment proven to reduce the risk of heart attacks and stroke.  Amgen expects to launch a number of other non-oncology medicines in China over the next several years, including Prolia^® (denosumab), 世界杯比赛时间 which reduces the risk of fracture in postmenopausal women with osteoporosis. 

6.XGEVA, KYPROLIS and BLINCYTO, as well as the medicines in Amgen’s oncology pipeline, will be manufactured at Amgen’s existing facilities.

Since 2011, Amgen has expanded its geographic presence from approximately 50 to 2026世界杯直播赛程 100 countries, enabling the company to play a growing role in serving the rapidly increasing demand for better healthcare around the world. The pharmaceutical market in China is expected to grow briskly as access to new medicines continues to improve. With approximately four million people diagnosed with cancer annually and 2026世界杯直播赛程 2.3 million deaths 世界杯比赛时间 from the disease each year, the need for new oncology treatments in China is particularly acute and the oncology market is one of the fastest-growing segments of the overall 2026世界杯直播赛程 pharmaceutical market there.

Amgen will purchase its equity 世界杯比赛时间 stake in BeiGene with available cash and expects to retain its investment grade credit rating.

“Amgen's capital allocation priorities remain unchanged,” said David W. Meline, executive vice president and chief financial officer at Amgen. “We will continue to grow our business through internal investment and 世界杯比赛时间 business development, while providing attractive returns to our shareholders through a growing dividend and continued share repurchases.”

The transaction is expected to close in early 世界杯比赛时间 2020 subject to BeiGene shareholder approval, the expiration or termination of waiting 世界杯比赛时间 periods under all applicable antitrust laws, and satisfaction 2026世界杯直播赛程 of other customary 世界杯比赛时间 2026世界杯直播赛程 closing conditions.

Goldman Sachs & Co. LLC is acting as exclusive financial advisor, and Latham & Watkins LLP is serving as legal advisor to Amgen.

About Amgen

Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering 世界杯比赛时间 innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.

Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients in more than 100 countries and regions worldwide and is developing a pipeline of medicines with 世界杯比赛时间 世界杯比赛时间 breakaway potential.

For more 世界杯比赛时间 information, visit http://www.amgen.com 2026世界杯直播赛程 and follow us on http://www.twitter.com/amgen.

Forward-Looking Statements

This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed 世界杯比赛时间 2026世界杯直播赛程 forward-looking statements, including any statements on the outcome, benefits and synergies of the BeiGene strategic collaboration, including the impact on non-GAAP EPS, as well as estimates of revenues, operating 世界杯比赛时间 世界杯比赛时间 margins, capital expenditures, cash, 2026世界杯直播赛程 other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes and other such 世界杯比赛时间 estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more 世界杯比赛时间 fully described in 世界杯比赛时间 the Securities 2026世界杯直播赛程 and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, 世界杯比赛时间 世界杯比赛时间 世界杯比赛时间 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 世界杯比赛时间 document as a result of new information, 世界杯比赛时间 future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially 世界杯比赛时间 from those 世界杯比赛时间 we project. Our results may be affected by our ability to successfully market both new and existing products domestically 世界杯比赛时间 世界杯比赛时间 and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties 2026世界杯直播赛程 or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including 世界杯比赛时间 governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline 世界杯比赛时间 developments and domestic and international trends toward managed care and healthcare cost containment. 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 safety, side effects or manufacturing problems with our products, including our devices, 2026世界杯直播赛程 after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our 世界杯比赛时间 business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail 世界杯比赛时间 to meet the compliance obligations in the 世界杯比赛时间 corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our 世界杯比赛时间 patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform 世界杯比赛时间 a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on 世界杯比赛时间 2026世界杯直播赛程 supply may constrain sales of certain of our current products and product candidate development. We rely on collaborations with third parties for the development of some of our product candidates and for the 2026世界杯直播赛程 2026世界杯直播赛程 commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new 2026世界杯直播赛程 products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from 世界杯比赛时间 concept to product is uncertain; consequently, there 世界杯比赛时间 世界杯比赛时间 世界杯比赛时间 2026世界杯直播赛程 世界杯比赛时间 can be no guarantee 2026世界杯直播赛程 that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and 世界杯比赛时间 component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate 世界杯比赛时间 an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to 世界杯比赛时间 collaborate with or acquire other companies or products and to integrate the operations of companies or in support of products we have acquired may not be successful. A 2026世界杯直播赛程 breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number 世界杯比赛时间 2026世界杯直播赛程 2026世界杯直播赛程 of events. Our business performance could affect or limit the ability 世界杯比赛时间 of our Board of Directors to 世界杯比赛时间 declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access 世界杯比赛时间 世界杯比赛时间 the capital and credit markets on terms that are favorable to us, or at all.