Amgen has plans to acquire Ilypsa, a private biotechnology company developing non-absorbed drugs for renal disorders, for $420 million in cash. Ilypsa’s lead drug candidate, ILY101, is a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis. Under terms of the agreement, Ilypsa will become a wholly-owned subsidiary of Amgen. The acquisition has been approved by the boards of directors of each company and the shareholders of Ilypsa....