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Thursday, May 19, 2022

Amgen Licenses Experimental Drug for Tuberculosis, Leprosy Treatment

Amgen Inc. has licensed one of its investigational pipeline drugs to Medicines Development for Global Health for the treatment of tuberculosis and leprosy.Financial terms of the agreement were not disclosed. Medicines Development is a nonprofit biopharmaceutical company in Australia that will assume full responsibility for the further development and commercialization of AMG 634.Thousand Oaks-based Amgen acquired the drug, called AMG 634, when it bought Otezla from Celgene in 2019 for $13.4 billion.

“Since tuberculosis and erythema nodosum leprosum remain challenging diseases in many countries around the world, Amgen sought an organization that could support the development of AMG 634 to address the global health unmet need,” Dr. David Reese, executive vice president of research and development at Amgen, said in a statement. “MDGH’s track record and experience in product development, global health, and neglected infectious diseases makes them an ideal company to further develop AMG 634 for the benefit of patients.”Amgen announced the licensing agreement on Tuesday. Shares of Amgen (AMGN) closed Thursday down 1 cent to $222.93 on a day when the Nasdaq closed early because of Christmas Eve.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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