NEW YORK (GenomeWeb News) – Biopharmaceutical firm Amgen is acquiring genomic research products firm Decode Genetics for $415 million, the companies announced today.

The all-cash deal has been approved by Amgen's board and is expected to be completed before the end of the year.

In a statement Amgen President and CEO Robert Bradway said the deal "fits perfectly" with the company's goal of pursuing the rapid development of relevant molecules for disease targets without wasting money on targets that aren't as well validated.

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