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Amgen Inc., the world’s largest biotechnology company, will pay Japan’s Kyowa Hakko Kogyo Co. as much as $520 million for the rights to a medicine that is being developed for inflammation and cancer, the two firms said Thursday.

Amgen, based in Thousand Oaks, Calif., will pay Kyowa Hakko $100 million initially and as much as $420 million tied to the development of the medicine, a humanized monoclonal antibody known as KW-0761, the companies said.

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