Amgen
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.10 | 19 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| approved | ×1.50 | 9 |
| phase 2 | ×0.87 | 5 |
| phase 3 | ×1.04 | 4 |
| discovery | ×0.74 | 3 |
Strategy profile
Based on 15 disclosed transactions, Amgen concentrates its licensing activity in Oncology, Immunology, and RareDisease. Amgen pays a 1.04x premium over market median, with the strongest premiums in Oncology (1.10x). Their most common deal structure is Acquisition, with an average disclosed value of $5.6B. Most recent activity: 2026.
Premium by therapeutic area
How Amgen pays relative to peer medians in each TA
Pipeline coverage & gaps
Amgen has disclosed activity in 1 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| AcquisitionPrimary | 6 | $13.0B | $13.0B |
| Collaboration | 3 | $38M | $524M |
| Option | 3 | $59M | $714M |
| License | 2 | $41M | $628M |
| Co Development | 1 | $23M | $232M |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | cancer-cell-surface target program | DISCO Pharmaceuticals | solid_tumor | discovery | — | $618M |
| 2026 | — | Dark Blue Therapeutics | acute myeloid leukemia | preclinical | — | $840M |
| 2025 | TIM-3-301 | Turning Point Therapeutics | GBM | discovery | $46M | $802M |
| 2025 | Nectin-4-001 | Caribou Biosciences | DLBCL | phase_1 | $95M | $992M |
| 2025 | Anti-CLDN18.2 | MacroGenics | HCC | discovery | $41M | $638M |
| 2024 | VEGFR | Immunogen | SCLC | discovery | $24M | $485M |
| 2023 | TargetScan Crohn's disease target-discovery collaboration | TScan Therapeutics | Crohn's disease | discovery | $30M | $530M |
| 2023 | B7-H3-101 | Kronos Bio | Breast (TNBC) | preclinical | $58M | $665M |
| 2023 | — | EVOQ Therapeutics | autoimmune | preclinical | — | $240M |
| 2022 | Horizon Therapeutics (full company acquisition) | Horizon Therapeutics | thyroidEyeDisease | approved | $27.8B | $27.8B |
| 2022 | Horizon Therapeutics portfolio (Tepezza, Krystexxa, Uplizna) | Horizon Therapeutics | Thyroid Eye Disease | approved | $28.3B | $28.3B |
| 2022 | Amyloid-beta-201 | Intra-Cellular Therapies | PTSD | discovery | $23M | $232M |
| 2022 | Tavneos (avacopan) | ChemoCentryx | ANCA-Associated Vasculitis | approved | $3.7B | $3.7B |
| 2021 | TNB-383B and bispecific platform | Teneobio | Relapsed/Refractory Multiple Myeloma | phase_1 | $900M | $900M |
| 2021 | BRAF V600E-mab | Legend Biotech | Mesothelioma | approved | $4.3B | $16.7B |
How this is computed
For each Amgen deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 23 disclosed deal premiums vs. peer medians. Raw premium 1.038, clamped to [0.7, 1.5].