DeCODE Iceland Jobs Secure After Sale Skip to content

DeCODE Iceland Jobs Secure After Sale

Staff at the genetic research company deCODE will reportedly keep their jobs following its acquisition by California-based biotechnology group Amgen yesterday. CEO of Amgen told RÚV that the company also planned to hire more staff in Iceland.

kari-stefansson_psKári Stefánsson. Photo by Páll Stefánsson.

Founder and CEO of deCODE Genetics Kári Stefánsson will also keep his position and be appointed vice-president of research at the U.S. company but told Fréttablaðið that: “I am however no spring-chicken anymore and don’t know much longer I will continue on.”

The company was sold for ISK 52 billion (USD 415 million, EUR 317 million), a decision unanimously approved by the Amgen board of directors. Under the agreement, deCODE becomes a subsidiary of Amgen.

The sale is expected to close before the end of the year. Kári said the deal would enable the company’s research to translate into therapies for patients. “We believe Amgen’s focus and ability to incorporate our genetic research into their research and development efforts will translate our discoveries into meaningful therapies for patients,” he said.

Kári said that what Amgen had essentially purchased “nothing more than our capability, skill and experience to make discoveries.”

DeCODE was founded in Reykjavík in 1996 and is considered a global leader in analyzing and understanding the link between the genome and disease susceptibility.

The company has discovered genetic risk factors for various diseases including cardiovascular disease and cancer.

DeCODE has 130 staff members in Iceland.

Click here to read more about this story.

ZR

Click here to learn about our custom made photo book Iceland 2012 with the best pictures of the year.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article

Facebook
Twitter