Amgen buys filgrastim rights for $137 million

Amgen has purchased from Roche the assets and business related to thecompanies' Neupogen/Granulokine (filgrastim) and Neulasta (pegfilgrastim) in the European Union, Switzerland and Norway, for $137.5 million. Filgrastim and pegfilgrastim are white-cell boosting therapeutics that are used primarily to prevent patients from contracting potentially life-threatening infections following chemotherapy.

The deal has been necessitated by the planned merger between Roche subsidiary Nippon Roche and the Japanese company Chugai (see also page 10), as the latter firm commercializes a competing drug called Neutrogin (lenograstim). Roche will, however, continue as the licensee for filgrastim and pegfilgrastim in other countries in Eastern Europe, the Middle East, Africa, Asia and Latin America.

Discussing the financial consequences of the deal, analysts at Sarasin noted that Roche's overall sales of filgrastim in 2001 reached 316 million Swiss francs ($199 million), while its European sales (consisting of Italy, Greece, Switzerland and Norway) contributed 62 million francs, or around 20% of the total. As a result, they believe the impact on the Swiss firm will be minimal, particularly as the analysts have, to date, discounted any impact of pegfilgrastim, which is currently filed for approval in Europe and cleared in the USA.