Amgen makes a major bet on China

Amgen just bought into BeiGene in a big way — investing $2.7 billion into China's largest biotech and gaining a 20.5% stake. Through this partnership, BeiGene plans to sell three of Amgen’s cancer drugs in China, and the two companies will work together to develop 20 oncology drug candidates already in Amgen’s pipeline — for eventual distribution in China and around the world.

U.S. life sciences companies increasingly are looking to China’s burgeoning biotech scene, which is said to have as many cancer patients as the U.S. and Europe combined, STAT’s Adam Feuerstein writes.  

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