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Amgen negotiates extension in $2.5B credit agreement

Amgen Inc. amended a 2014 credit agreement with certain financial institutions, negotiating an extension to the agreement's maturity.

The Thousand Oaks, Calif.-based biotech company's credit limit is set at $2.5 billion, and the agreement now matures in December 2024, extendable by up to two years at Amgen's request.

Amgen may also request an increase of up to $750 million in its credit limit.

Amgen plans to use the borrowings for general corporate purposes.