CCXI Stock Rockets; Amgen Plans $3.7 Billion ChemoCentryx Buyout As Generics Loom

Amgen (AMGN) agreed to buy ChemoCentryx (CCXI) for $3.7 billion on Thursday, leading CCXI stock to rocket.


ChemoCentryx is focused on rare and orphan diseases, particularly those in the autoimmune, inflammatory and cancer areas. It recently gained Food and Drug Administration approval for Tavneos, a treatment for inflammation in the blood vessels.

And the biggest biotech company wants ChemoCentryx under its umbrella.

“The acquisition of ChemoCentryx represents a compelling…

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