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Ventura County Based Biotech Giant Buys Bay Area Firm

Posted on Tuesday, April 10, 2012 2:12pm

A Ventura County based biotech giant has announced it’s buying a Bay Area based drugmaker, to get rights to an experimental treatment for kidney disease.

Amgen says it’s purchasing KAI Pharmaceuticals for $315 million dollars in cash.

The purchase gives Thousand Oaks based Amgen worldwide rights, with the exception of Japan, to KAI’s drug for people with chronic kidney disease.

KAI will become a wholly owned subsidiary of Amgen.

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