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

ies for unmet medical needs, and are confident that together we can help many Chinese patients who suffer from colorectal cancer."  

"This is an important step forward in Amgen's commitment to the China market," said James Li , vice president and general manager, Amgen Greater China. "We are excited about the formation of our partnership with Zhejiang Beta Pharma and look forward to bringing Vectibix to Chinese patients within the coming years. Amgen's 30-year track record of developing innovative medicines means we are well-positioned to support the development of China's biotech sector. We see this as a clear step that enables Amgen to help China achieve its goals for the biotech industry."

"This is certainly a groundbreaking event for the biotech industry in China," said Yinxiang Wang, CEO of Zhejiang Beta Pharma. "We are pleased to be joining forces with Amgen in the war against cancer."

According to the agreement, the new joint venture will be named Amgen-Beta Pharmaceuticals Co., Ltd. Zhejiang Beta Pharma will own 51 percent and Amgen will own the remaining 49 percent interest in the joint venture. The creation of the joint venture is subject to the satisfaction of certain closing conditions, including the approval of relevant government authorities in China.

About Amgen
Amgen discovers, develops, manufactures and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe, effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine, helping people around the world in the fight against serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing sc
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