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Amgen And Zhejiang Beta Pharma Announce Planned Joint Venture In China
Date:5/9/2013

THOUSAND OAKS, Calif. and ZHEJIANG, China, May 9, 2013 /PRNewswire/ -- Amgen (NASDAQ: AMGN) and Zhejiang Beta Pharma Co., Ltd.  (Zhejiang Beta Pharma) today announced that the companies have signed an agreement to form a joint venture to commercialize Amgen's Vectibix® (panitumumab) in the Chinese market. Together, Amgen and Zhejiang Beta Pharma aim to quickly and efficiently deliver Vectibix to patients in China.

The joint venture will benefit from Zhejiang Beta Pharma's strong expertise in the development and commercialization of molecularly targeted therapies as well as Zhejiang Beta Pharma's industry-leading oncology sales network in China. Zhejiang Beta Pharma's China capabilities are complementary to Amgen's global expertise in the development and manufacturing of human therapeutics.

"This joint venture brings us one step closer to providing Chinese patients with Amgen's medicines and supports our strategy of expanding in key, fast-growing markets," said Anthony C. Hooper , executive vice president at Amgen. "We are pleased to have the opportunity to join forces with Zhejiang Beta Pharma, a leader in developing and commercializing innovative medicines that shares our goal of making a new treatment option available to colorectal cancer patients in China."

"Amgen is a pioneer and a global leader in the biotech industry. Our partnership with Amgen will be of long-term strategic significance not only for Zhejiang Province, but also for the whole medical community in China," said Lieming Ding, chairman of Zhejiang Beta Pharma.  "We share Amgen's passion for developing molecularly targeted therap
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SOURCE Amgen
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