By Josh Beckerman

BeiGene Ltd. (BGNE) American depositary shares recently traded up 23% to $170 after hours as Amgen Inc. (AMGN) agreed to buy a 20.5% stake in the biotechnology company for about $2.7 billion.

BeiGene and Amgen agreed to jointly 20 develop drugs from Amgen's pipeline.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 31, 2019 19:08 ET (23:08 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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