May 6, 2013
The company: Amgen Inc. Headquarters: Thousand Oaks Ticker: AMGN Employees: 18,000 Leadership: Robert A. Bradway, chief executive since May 2012 2012 revenue: $17.3 billion 2012 net income: $4.3 billion Stock price: $106.48 at Friday's close 52-week range: $67.61 to $114.95 P/E ratio: 15, based on 2013 earnings estimates Dividend: 47 cents a quarter, a current annual...
April 26, 2013 |
A federal jury in Los Angeles found an Anaheim physician and two others guilty this week for their roles in a $1.5-million Medicare fraud scheme involving power wheelchairs. At trial, federal prosecutors said that Godwin Onyeabor, 49, an officer at Fendih Medical Supply Inc. in San Bernardino, paid kickbacks to physician Sri J. Wijegunaratne, 58, and another healthcare professional, Heidi Morishita, 48, for fraudulent prescriptions for durable medical equipment. Officials said that as a result of this scheme, which ran from 2007 to 2012, those prescriptions were used to bill Medicare $1.5 million for false and fraudulent claims.
April 24, 2013 |
Shares of biotech giant Amgen Inc. slumped as investors reacted to weaker-than-expected first-quarter sales. Shares of the Thousand Oaks company dropped $7.83, or 7%, to $104.93 in trading Wednesday. The company's stock had posted impressive gains until this week, up 65% in the last year. Amgen reported first-quarter results after the markets closed Tuesday. Its net income rose 21% to $1.4 billion, or $1.88 a share, from $1.2 billion, or $1.48, a year earlier. But analysts and investors focused much of their attention on Amgen's revenue growth, which came in lower than Wall Street's expectations.
April 24, 2013 |
Shares of biotech giant Amgen Inc. slumped Wednesday as investors reacted to weaker-than-expected first-quarter sales. Shares of the Thousand Oaks company dropped $6.41, or nearly 6%, to $106.35 in trading Wednesday. The company's stock had posted impressive gains until this week, up 65% in the last year. Amgen reported first-quarter results after the markets closed Tuesday. Its net income rose 21% to $1.4 billion, or $1.88 a share, from $1.2 billion, or $1.48 a share, a year earlier.
April 11, 2013
Re "Remove Medicare's straitjacket," Opinion, March 29 Art Kellerman misunderstands why Congress delayed inclusion of oral-only drugs in the Medicare payment bundle for dialysis services. It wasn't to give Amgen and other drug makers a major windfall; it was done because of major changes in how Medicare pays for dialysis care. This action by Congress ensures that vulnerable dialysis patients, who are among our nation's most chronically ill, continue to receive the medicine they need.
March 7, 2013 |
Amgen Tour of California announced that 16 teams will participate in the 2013 race that will run from May 12-19. Returning for its sixth year is Belgium team Omega Pharama-Quick Step Cycling, whose roster includes popular sprinter Tom Boonen, whose attendance to the race has been confirmed. Among the top U.S. pro teams participating are BMC Racing, headquartered in Santa Rose, whose roster includes current world champion Philippe Gilbert of Belgium, and the Garmen-Sharp team based in Denver.
January 25, 2013 |
A bipartisan group of U.S. lawmakers is seeking to repeal a Medicare-pricing provision in the recent "fiscal-cliff" deal in Congress that benefits Thousand Oaks biotech giant Amgen Inc. Legislation to eliminate the exemption for a class of drugs, including Amgen's Sensipar, that are used by kidney dialysis patients, was filed this week by U.S. Rep. Peter Welch (D-Vt.). The fiscal cliff legislation approved this month excluded these oral medications from Medicare price controls for an additional two years.
January 5, 2013 |
If you're concerned about corporate crime, 2012 looked like a pretty successful year for the good guys. The Thousand Oaks biotech giant Amgen paid $762 million in fines and penalties and pleaded guilty to a federal charge related to illegal marketing of its anemia drug Aranesp. Britain's GlaxoSmithKline and Illinois-based Abbott Laboratories paid $3 billion and $1.5 billion in government penalties, respectively, in connection with their off-label promotions of blockbuster drugs.
December 18, 2012 |
Biotech giant Amgen Inc. is expected to plead guilty Tuesday in a criminal case in New York federal court, according to prosecutors. The Thousand Oaks company is scheduled to enter a plea to unspecified charges, according to a notice from the U.S. attorney's office in Brooklyn. Federal prosecutors couldn't be reached for further comment. Amgen didn't respond to requests for comment late Monday. Last month, Amgen said in a securities filing that it expected to pay $806 million to settle federal civil and criminal investigations related to its sales and marketing practices that were pending in the states of New York and Washington.