Amgen Acquires Ilypsa For $420M

Thousand Oaks-based Amgen announced Monday afternoon that it has agreed to acquire Santa Clara-based Ilypsa, a company developing non-absorbed drugs for renal disorders. The deal is worth $420M in cash. Ilypsa's compounds are targeted at treating kidney disease and its complications. The firm's compound has completed Phase 2 studies for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis. The acquisition of Ilypsa is expected to close in the third quarter of 2007.