US biotech firm teams up with Takeda

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US biotech firm Amgen will sell drug rights to Japanese pharmaceutical Takeda in a $1.2 billion (A$1.3 billion) deal.

Takeda will develop and commercialise up to 13 drug candidates for the Japanese market, ensuring that patients will have access to Amgen's most cutting-edge medicines for serious illnesses.

Under the terms of the deal, cash will be made available for the restructuring of Amgen and to strengthen Takeda's pipeline.

"The development programs included in this collaboration represent the growth engine for Amgen in the next decade," said Amgen chairman Kevin Sharer.

"Takeda's confidence in these programs validates their potential to become innovative therapies for patients in Japan and worldwide."

Takeda is Japan's biggest drug-maker and markets medicines and treatments in around 90 countries.