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Subsequent Event
12 Months Ended
Dec. 31, 2011
Subsequent event [Abstract]  
Subsequent events

20. Subsequent event

On January 26, 2012, we announced that we had entered into an agreement to acquire Micromet, Inc. (Micromet), a publicly held biotechnology company focused on the discovery, development and commercialization of innovative antibody-based therapies for the treatment of cancer. The acquisition includes blinatumomab, a Bispecific T cell Engager (BiTE) antibody in phase 2 clinical development for acute lymphoblastic leukemia and BiTE antibody technology, which is proprietary to Micromet, which provides an innovative platform for future clinical research. Blinatumomab is also in clinical development for the treatment of non-Hodgkin’s lymphoma and could have applications in other hematologic malignancies. In connection with this acquisition, which will be accounted for as a business combination, we have commenced a tender offer to acquire all of the outstanding shares of Micromet’s common stock at a price of $11 per share in cash, which values Micromet at approximately $1.16 billion. Upon its acquisition, Micromet will become a wholly owned subsidiary of Amgen. This acquisition will provide us with an opportunity to further expand our oncology pipeline. Micromet will be included in our consolidated financial statements commencing on the acquisition date. The acquisition, which is subject to customary closing conditions, is expected to close during the three months ended March 31, 2012.