Amgen bought Five Prime Therapeutics, which is researching an...

Amgen bought Five Prime Therapeutics, which is researching an oncology drug ("phase 3 ready" company - not sure if that even means they have even commenced phase 3).

Amgen in the past, bought into another company that had developed Enbrel, which brings in circa 5bn pa for Amgen. Largest source of their circa 24bn annual revenue.

I thought it was interesting that they bought into an oncology drug developer to widen their specialist oncology drug offering.

By extension, I can see an OA drug to be complimentary to an existing RA drug offering, broadening on their arthritis and joint inflammation drug specialty.

Amgen just could be a potential future partner of PAR.

Separately, loose parallels can be drawn between Five Prime and PAR. I think one Phase 3 commences, the SP should recover quickly. Goes to show how undervalued we are!