Shares of Amgen (AMGN) rose some 1.6% in Monday's trading session. The biotechnology company announced the acquisition of deCODE Genetics in a deal valuing the company from Iceland at $415 million.
The Deal
Amgen announced that it will acquire deCODE Genetics, a global leader in human genetics. The company which is based in Reykjavik was founded in 1996 and is a global leader in analyzing and understanding the link between genomics and disease susceptibility. deCODE has discovered genetic risk factors for dozens of diseases ranging from cardiovascular to cancer. Amgen will pay $415 million for deCODE in an all-cash transaction.
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