Amgen Inc. has completed the sale of a development and manufacturing facility in the San Francisco area to German drugmaker Boehringer Ingelheim.
Boehringer did not disclose how much it paid Amgen for the Fremont facility, which the Thousand Oaks biotech acquired as part of its 2006 purchase of Abgenix Inc. The 100,000-square-foot plant employs about 360 people who now will work for Boehringer, which does some contract manufacturing for Amgen.
The sale, first announced in January, comes as analysts speculate that cash-rich Amgen may soon start paying a dividend to shareholders.
Amgen shares were up 36 cents, or less than a percent, to $53.63 in midday trading on the Nasdaq.
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