Amgen Expands Into Brazil

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Amgen Inc. on Friday said that it had acquired privately held Brazilian drug developer Bergamo for about $215 million. The Thousand Oaks biotech giant also reacquired rights to market several Amgen drugs in the fast-growing South American country.

Sao Paulo-based Bergamo supplies medicines to the Brazilian hospital sector, has “capabilities in oncology” and had $80 million in revenue last year. Amgen also reached a separate agreement with another company, Hypermarcas, to reacquire rights to several drugs it had previously licensed for the Brazilian market.

The two actions provide the company “an attractive entry into the Brazilian market,” said Amgen Chief Executive Kevin Sharer in a statement. He noted that Brazil is expected to be the world’s fifth-largest pharmaceutical market by 2015.

“Amgen’s strategic goal is to make our innovative medicines available to patients in major markets around the world,” Sharer said.

Amgen shares were up 29 cents, or less than 1 percent, to $54.04 in midday trading on the Nasdaq.

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