Monday, February 18, 2013

Amgen looking for M&A to build and grow presence in China

Amgen (NSDQ: AMGN) has annoucned that it intends to expand in China and would be adopting an inorganic growth strategy. They would be pursuing M&A and partnership to build and expand its
presence in China.  It would be launching its own patented drugs on the China market by 2015.  Also they look emerging markets as an attractive destination for building up their biosimilar business.

Amgen will establish a biosimilar capability that will produce versions of its competitors’ biologic drugs. To make these drugs, Amgen is currently building a plant in Singapore, which will be completed by 2017. The company expects to generate $1 billion of revenues from biosimilars in emerging market countries.

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