Amgen Inc. Chairman Gordon M. Binder has filed papers to notify federal regulators of his plans to sell 100,000 shares of the company, almost 7% of the 1.5 million shares he owns, according to regulators.
The shares would be worth about $6.2 million.
Binder, chief executive of the world's largest biotechnology company, last sold Amgen stock in May, when he sold 84,000 shares. The Thousand Oaks company's share price rose to a 12-month high of $65.56 in late May on takeover speculation.
Business Week reported that Delaware-based DuPont Co. would make a $25-billion cash offer for the company. Both companies declined to comment.
The Thousand Oaks company sells two drugs whose annual sales exceed $1 billion--Epogen, for anemic dialysis patients, and Neupogen, which is used to treat a weakened immune system.