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.




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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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