Amgen announced that it will acquire deCODE Genetics for $415 million. Based in Reykjavik, Iceland, deCODE Genetics analyzes the link between the genome and disease susceptibility. The company has discovered genetic risk factors for dozens of diseases ranging from cardiovascular disease to cancer.

"deCODE Genetics has built a world-class capability in the study of the genetics of human disease," said Robert A. Bradway, president and CEO at Amgen. "This capability will enhance our efforts to identify and validate human disease targets.  This fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programs based on less well-validated targets."

This transaction does not require regulatory approval, the companies said, and is expected to close before the end of 2012.