AGREEMENT AND PLAN OF MERGER







                                BY AND AMONG







                                AMGEN INC.,







                            AMS ACQUISITION INC.







                                    AND







                            IMMUNEX CORPORATION







                       DATED AS OF DECEMBER 16, 2001













                             TABLE OF CONTENTS





ARTICLE 1. The Merger....................................................... 1



      Section 1.1      The Merger.............................................1

      Section 1.2      Closing................................................1

      Section 1.3      Effect of the Merger...................................2

      Section 1.4      Articles of Incorporation; Bylaws......................2

      Section 1.5      Directors and Officers of the Surviving Corporation....2

      Section 1.6      Directors of Parent....................................2



ARTICLE 2. Conversion of Securities; Exchange of Certificates.................2



      Section 2.1      Conversion of Securities...............................2

      Section 2.2      Exchange of Certificates...............................4

      Section 2.3      Stock Transfer Books...................................7

      Section 2.4      Stock Options..........................................7

      Section 2.5      Employee Stock Purchase Plan...........................8

      Section 2.6      Employment Agreement...................................8

      Section 2.7      AHP Agreements.........................................8

      Section 2.8      Role of Seattle and Rhode Island Following the Merger..9



ARTICLE 3. Representations and Warranties of the Company......................9



      Section 3.1      Organization and Qualification; Subsidiaries...........9

      Section 3.2      Articles of Incorporation and Bylaws; Corporate

                       Books and Records......................................9

      Section 3.3      Capitalization........................................10

      Section 3.4      Authority.............................................11

      Section 3.5      No Conflict; Required Filings and Consents............11

      Section 3.6      Permits; Compliance With Law..........................12

      Section 3.7      SEC Filings; Financial Statements.....................13

      Section 3.8      Absence of Certain Changes or Events..................13

      Section 3.9      Employee Benefit Plans................................14

      Section 3.10     Labor and Other Employment Matters....................16

      Section 3.11     Tax Treatment.........................................17

      Section 3.12     Contracts.............................................17

      Section 3.13     Litigation............................................18

      Section 3.14     Environmental Matters.................................18

      Section 3.15     Intellectual Property.................................19

      Section 3.16     Taxes.................................................20

      Section 3.17     Insurance.............................................20

      Section 3.18     Properties............................................20

      Section 3.19     Regulatory Compliance.................................21

      Section 3.20     Opinion of Financial Advisor..........................22

      Section 3.21     Vote Required.........................................22

      Section 3.22     Brokers...............................................22



ARTICLE 4. Representations and Warranties of Parent and Merger Sub...........22



      Section 4.1      Organization and Qualification; Subsidiaries..........22

      Section 4.2      Certificate of Incorporation and Bylaws; Corporate

                       Books and Records.....................................23

      Section 4.3      Capitalization........................................23

      Section 4.4      Authority Relative to This Agreement..................24

      Section 4.5      No Conflict; Required Filings and Consents............24

      Section 4.6      Permits; Compliance With Law..........................25

      Section 4.7      SEC Filings; Financial Statements.....................25

      Section 4.8      Absence of Certain Changes or Events..................26

      Section 4.9      Litigation............................................26

      Section 4.10     Environmental Matters.................................27

      Section 4.11     Intellectual Property.................................27

      Section 4.12     Regulatory Compliance.................................27

      Section 4.13     Tax Treatment.........................................28

      Section 4.14     Ownership of Merger Sub; No Prior Activities..........28

      Section 4.15     Opinion of Financial Advisor..........................28

      Section 4.16     Vote Required.........................................28

      Section 4.17     Brokers...............................................28

      Section 4.18     Sufficient Funds......................................28



ARTICLE 5. Covenants  .......................................................28



      Section 5.1      Conduct of Business by the Company Pending the

                       Closing...............................................28

      Section 5.2      Conduct of Business by Parent Pending the Closing.....32

      Section 5.3      Cooperation...........................................33

      Section 5.4      Tax-Free Reorganization Treatment.....................33

      Section 5.5      Control of Other Party's Business.....................33



ARTICLE 6. Additional Agreements.............................................34



      Section 6.1      Registration Statement; Proxy Statement...............34

      Section 6.2      Shareholders' Meetings................................35

      Section 6.3      Access to Information; Confidentiality................36

      Section 6.4      No Solicitation of Transactions.......................37

      Section 6.5      Appropriate Action; Consents; Filings.................39

      Section 6.6      Certain Notices.......................................41

      Section 6.7      Public Announcements..................................41

      Section 6.8      Nasdaq Listing........................................41

      Section 6.9      Employee Benefit Matters..............................41

      Section 6.10     Indemnification of Directors and Officers.............42

      Section 6.11     Plan of Reorganization................................43

      Section 6.12     Affiliate Letters.....................................43

      Section 6.13     Section 16 Matters....................................43

      Section 6.14     Stock Award Matters...................................43

      Section 6.15     Restructure of Transaction............................44



ARTICLE 7. Closing Conditions................................................44



      Section 7.1      Conditions to Obligations of Each Party Under This

                       Agreement.............................................44

      Section 7.2      Additional Conditions to Obligations of Parent and

                       Merger Sub............................................45

      Section 7.3      Additional Conditions to Obligations of the Company...46

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