Amgen Inc. has committed $50 million to a new drug to fight heart disease in a collaboration deal with a French lab.
The Thousand Oaks company disclosed Tuesday that it will pay Servier, a pharmaceutical research company in Suresnes, France, $50 million as an upfront payment for the right to commercialize invabradine, an oral heart medication. The drug helps patients with elevated heart rates. Amgen also received the right to develop a molecule developed in Servier’s lab to treat heart failure.
As part of the deal, Servier obtained rights to commercialize omecamtiv mecarbil, a drug currently being tested by Amgen to treat insufficient blood flow out of the heart, in Europe.
“We value Servier's extensive experience in cardiovascular disease and look forward to working with them as Amgen continues to build our presence in this area,” Dr. Sean Harper, executive vice president of research and development at Amgen, said in a statement.
Amgen shares closed Thursday at $103.26, up $1.20 or 1.2 percent in trading on the Nasdaq.