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BUSINESS
April 25, 2012 | Bloomberg News
Amgen Inc. agreed to buy closely held Mustafa Nevzat Pharmaceuticals for almost $700 million to expand in Turkey, where economic growth is boosting demand for medicines. Amgen will pay cash to get 95.6% of Mustafa Nevzat, or MN Pharmaceuticals as the Istanbul generic-drug maker is known, the companies said Wednesday. The transaction will boost Amgen's presence in a region that has "large, fast-growing, priority markets," they said. Amgen is seeking to shore up revenue as its former core anemia franchise declines.
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SPORTS
February 21, 2014 | Gary Klein
The Amgen Tour of California, an eight-stage professional cycling race that covers more than 730 miles, will feature three stages that begin and end in the Southland, including one from Santa Clarita to the Mountain High ski resort in Wrightwood, race organizers announced Thursday. The ninth annual event begins May 11 in Sacramento and ends May 18 in Thousand Oaks. Riders from 16 domestic and international men's teams will compete in a race that will include 40,000 feet of climbs.
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BUSINESS
April 25, 2012 | By Chad Terhune, Los Angeles Times
Biotech giant Amgen Inc. reported a 5% increase in first-quarter profit, lifted by solid sales overall that helped offset continued weakness for its anemia treatments. The Thousand Oaks company reported profit of $1.18 billion, or $1.48 a share, for the three months ended March 31, compared with net income of $1.13 billion, or $1.20 a share, a year earlier. Revenue for the quarter grew 9% to $4.05 billion. The results topped analysts' expectations for earnings per share of $1.46, excluding one-time items, and sales of $3.94 billion.
BUSINESS
January 9, 2014 | By Ricardo Lopez
Amgen Inc. on Thursday said its chief financial officer, Jonathan M. Peacock, would leave the Thousand Oaks-based biotech company to pursue “broader career opportunities.” The change is effective Friday.   “Since joining Amgen over three years ago, Jon has played an important role in developing and implementing the company's strategy for growth and in delivering value for shareholders,” said Robert Bradway, Amgen's chief executive. Amgen has appointed Michael A. Kelly as acting CFO, the company said in a statement.
BUSINESS
October 4, 2008 | From Times Wire Reports
Amgen Inc. of Thousand Oaks won a court ruling blocking Roche Holding from selling the anemia drug Mircera in the U.S. because it infringes Amgen patents. U.S. District Judge William Young in Boston issued an order repeating his tentative findings from a February hearing.
CALIFORNIA | LOCAL
March 17, 1993
I would like to respond to the protest at Amgen by members of ACT/UP L.A. I believe the protesters should know how much Amgen has done for the community. In recent months, Amgen has shown its concern for the service organization, AIDS Care, by allowing boxes for the collection of food by employees in their company. This food was then turned over to be used by clients of AIDS Care through the Daily Provisions Program. In an ironic twist, the same day ACT/UP protested at Amgen, AIDS Care received a grant check from Amgen for several thousand dollars to help its clients purchase prescription medication.
BUSINESS
March 7, 2008 | From Times Wire Services
Amgen Inc. will pay Kyowa Hakko Kogyo Co. $100 million initially and as much as $420 million tied to the development of an experimental medicine for inflammation and cancer, the companies said. Kyowa Hakko is the Tokyo-based drug unit of Kirin Holdings Co. The deal gives Thousand Oaks-based Amgen a potential medication that could join its anti-inflammatory medicine Enbrel. Shares fell $1.01 to $44.24.
BUSINESS
February 6, 2008 | From Times Wire Services
Amgen Inc. must defend a lawsuit over claims that it misled investors about safety issue with its top-selling anemia drugs, Epogen and Aranesp. A U.S. district judge in Los Angeles denied Amgen's request to dismiss a consolidated shareholders' complaint. Shareholders say Thousand Oaks-based Amgen artificially inflated its stock price from April 2004 to May 2007 by making false statements about the drugs' safety and by marketing them for uses not approved by the Food and Drug Administration.
BUSINESS
July 15, 2008 | From Times Wire Services
Amgen Inc. said its experimental osteoporosis drug denosumab strengthened bones and reduced spinal fractures in men undergoing treatment for prostate cancer in a clinical trial. In the three-year study, 1,400 men taking denosumab had improved bone density and half as many spinal fractures compared with a placebo, the Thousand Oaks company said.
BUSINESS
January 27, 2012 | By Tiffany Hsu, Los Angeles Times
Biotech giant Amgen, fresh off mixed earnings, said it will shell out $1.16 billion to broaden its product pipeline by buying fellow drug developer Micromet Inc. Thousand Oaks-based Amgen is already one of the world's premier pharmaceutical firms, but it's saddled with mostly older products, such as anemia treatment Epogen and arthritis medication Enbrel. Its portfolio is facing more competition and high expenses as similar products hit the market, analysts said. Amgen's profit in 2011 fell 20.4% year over year - largely because of higher costs - to about $3.7 billion, or $4.07 a share, the company said after the markets closed Thursday.
BUSINESS
October 27, 2013 | Michael Hiltzik
In today's world, brimful as it is with opinion and falsehoods masquerading as facts, you'd think the one place you can depend on for verifiable facts is science. You'd be wrong. Many billions of dollars' worth of wrong. A few years ago, scientists at the Thousand Oaks biotech firm Amgen set out to double-check the results of 53 landmark papers in their fields of cancer research and blood biology. The idea was to make sure that research on which Amgen was spending millions of development dollars still held up. They figured that a few of the studies would fail the test - that the original results couldn't be reproduced because the findings were especially novel or described fresh therapeutic approaches.
SPORTS
September 19, 2013 | By Diane Pucin
The Amgen Tour of California announced Thursday that its title sponsor, Amgen, the Santa Clarita-based company that conducts cancer-drug research, has re-upped its sponsorship. Kristin Bachochin, executive director of AEG Sports, which owns the race, said the sponsorship was a "multi-year" agreement. Among other race sponsors that have renewed contracts are Champions Systems, an apparel company that renewed for three years. Amgen's sponsorship contract had been up after the 2013 race and had raised questions about the cycling race's future.
BUSINESS
June 30, 2013 | By Richard Verrier
Onyx Pharmaceuticals Inc. on Sunday rejected an unsolicited takeover bid from Amgen Inc., the Thousand Oaks biotech giant. Onyx, headquartered in South San Francisco, confirmed in a statement that it had received a bid of $120 a share from Amgen, but said the offer “significantly undervalued” the company and was “not in the best interest of Onyx or its shareholders. " But Onyx added that it would consider other possible bids. “We are actively exploring the potential to combine Onyx with another company,” Onyx Chief Executive N. Anthony Coles said in the statement.
SPORTS
May 20, 2013 | By Diane Pucin
SANTA ROSA - Tejay van Garderen rode his bicycle into a hotel meeting room Sunday as if he were corralling a bucking bronco. He reared the cycle up on its back wheel and slammed it down during a well-earned and well-deserved celebration. Van Garderen, a 24-year-old from Bozeman, Mont., took hold of the eighth Amgen Tour of California on Friday by winning the time trial in San Jose; kept his grip Saturday by not faltering on the climb up Mt. Diablo; and by Sunday he might as well have stopped and sampled some of the products at the wineries that dotted the countryside along the 80.7-mile final stage from San Francisco to Santa Rosa.
SPORTS
May 12, 2013 | By Diane Pucin
ESCONDIDO, Calif. - Lieuwe Westra, red-faced and shaking, was the winner of Sunday's first stage at the Amgen Tour of California, on a day when temperatures on the route were recorded as high as 105 degrees. James Stemper, of the 5-hour Energy/Kenda Racing team, who was awarded the title as most courageous rider for helping lead an early breakaway, said, "Heat was probably the biggest factor of the day. Eventually you could not pedal very hard. " Carter Jones, who rides for the Bissell Pro Cycling team and who earned the most points toward winning the King of the Mountain title as best uphill rider, said, "The heat was brutal.
SPORTS
May 12, 2013 | By Diane Pucin
Despite temperatures that reached as high as 105 degrees in some places along the 102.7-mile route and climbs that took the cyclists as high as 11,000 feet, Lieuwe Westra of the Vacansoleil-DCM team sprinted to a win in the first stage of the Amgen Tour of California on Sunday. The riders began and finished their day in Escondido. In between they climbed Mt. Palomar. This is the first time in the race's eight-year history that riders will be traveling from Southern California to the north.
BUSINESS
January 26, 2012 | Bloomberg News
Amgen Inc., the world's largest biotechnology company, agreed to buy Micromet Inc. in a $1.16 billion deal to gain an experimental leukemia drug. Investors of Micromet, based in Rockville, Maryland, will get $11 a share, the companies said in a statement today. The acquisition will give Thousand Oaks, California-based Amgen the compound blinatumomab, being tested against two blood cancers, acute lymphoblastic leukemia and non-Hodgkin's lymphoma. While Amgen spends $2.7 billion a year on research and development, the company has "a fairly empty pipeline" and needs to acquire to gain promising new products, said Geoffrey Porges, an analyst for Sanford C. Bernstein in New York.
BUSINESS
May 12, 2013 | By Marc Lifsher, Los Angeles Times
SACRAMENTO - Two of the nation's largest biotech companies - Amgen Inc. of Thousand Oaks and Genentech Inc. of South San Francisco - are fighting in Sacramento to keep a tight grip on some of their most lucrative drugs. At stake is a potential market worth tens of billions of dollars for pricey biological medicines they make from human blood, serums, bacterial cultures, viruses and other microorganisms. They are used to treat cancers, immune disorders and many other complex diseases.
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