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Amgen buys DeCode Genetics

The biotech is buying privately held Icelandic gene-research firm DeCode Genetics for $415 mil. DeCode had been taking advantage of Iceland's unusually pure gene pool to study the links between genes and diseases. Amgen (AMGN) said the acquisition will help it develop targeted therapies. Other companies are doing the same. Myriad Genetics (MYGN) has also been forming companion diagnostics partnerships with a number of firms such as Merck (MRK) and Biogen Idec (BIIB) to create therapies personalized to a patient's genetic profile. Amgen shares rose 1.6% to 89.74.