AMGEN FEBRUARY FEAST CLOSES WITH OBESITY GENE LICENSE; STOCK UP 8.5%
Amgen is fattening its research prospects þ and steering investor attention away from takeover talk þ by licensing exclusive rights to a gene linked to obesity from the Rockefeller University. The Feb. 28 (Fat Tuesday) announcement of the agreement capped a strong month for Amgen on Wall Street, as the stock climbed 5-3/8 points (8.5%) in February to close at 69. Amgen is placing a large bet on the obesity gene project: the company will pay the university $20 mil. up front, milestone payments "several times that amount" and royalties on sales
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