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BUSINESS
June 21, 2010 | By Karen E. Klein
Dear Karen: I'm looking for venture capital funding for a biotech firm. Any suggestions? Answer: Don't waste your time approaching generic investment firms. "There are venture capital funding groups devoted specifically to life sciences endeavors, and such funding groups are a good starting point for biotech start-ups seeking investment dollars," said Eva Jack, managing director of venture capital firm MedImmune Ventures. And be persistent. U.S. venture capital investment fell by nearly half last year compared with 2008, according to the MoneyTree Report, a study from the National Venture Capital Assn.
ARTICLES BY DATE
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.
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BUSINESS
April 24, 2013 | By Chad Terhune
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.
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.
CALIFORNIA | LOCAL
August 13, 2000
If a diversified portfolio is the key to economic stability, Ventura County is sitting pretty as it begins a new millennium. To balance the ancient art of coaxing crops from the soil, the county is becoming a center for the futuristic industry of biotechnology. For decades farming has been the centerpiece of the county's economy, reaping a billion dollars a year, shipping lemons, strawberries and dozens of other crops all over the world and employing thousands of people. Current efforts to reduce development pressure on farmland and to find win-win solutions to other conflicts should help keep local farming operations healthy for decades more to come.
CALIFORNIA | LOCAL
September 27, 1996
Regarding Henry I. Miller's "Regulation Is Killing Biotech Innovation," Commentary, Sept. 23: The Machiavellian and sinister forces at the EPA who operate under the guise of environmental good-guy watchdog agency for the benefit of the public are, in my opinion, the enviro-tyrants, whose primary objective is to strangle small business with the noose of over-regulation. Too many governmental agencies, with a tacit nod from Congress, usurp the will and liberty of the electorate by fostering totalitarian economics and circumventing honest competition.
BUSINESS
December 17, 2009 | Michael Hiltzik
The debate over healthcare reform is focused on such a small number of hot issues -- should there be a public option, Medicare buy-in, government-paid mental health counseling for Sen. Lieberman? -- that dozens of other questions are cruising under the radar. Here's one worth a lot more attention than it has been getting: Is Congress poised to make a big payoff to biotech firms and their venture backers by hindering the entry of a new class of generic drugs into the marketplace?
CALIFORNIA | LOCAL
April 19, 1992
We were shocked and outraged that the San Diego Edition printed a completely one-sided, pro-nuclear/biotech industry article on the proposed Ward Valley "low-level" radioactive waste site ("Waste Dump Is Regarded as a Test of City Support for Biotech Firms," March 31). Not one word of the story was devoted to the point of view of those who oppose the Ward Valley site for several valid reasons. You should understand at the outset that many of the opponents do not oppose a repository for medical and biotech radioactive waste.
BUSINESS
May 21, 1989 | JAMES FLANIGAN
A new drug on its way from the biotech industry promises to curb anemia, and is already exciting financial markets. Amgen Inc. of Thousand Oaks has synthesized erythropoietin--EPO for short--a protein produced in the human kidney that stimulates the production of red blood cells. And when officials of the Food & Drug Administration hinted recently that they were close to approving EPO for dialysis patients, who become anemic as a result of kidney failure, Amgen stock jumped $3 a share to $40--adding $50 million in market value to a company that had gross revenues of only $53 million last year.
BUSINESS
April 16, 2013 | By David G. Savage and Chad Terhune, Los Angeles Times
WASHINGTON - The Supreme Court took up a deceptively simple question in a case brought by breast cancer patients and medical researchers: Are human genes patentable? The answer appeared to be "no" during Monday's oral arguments. The justices signaled that they probably will bar any grants of exclusive and profitable patents on human genes that prevent other scientists from testing these pieces of DNA. But the justices were aware the issue itself was anything but simple, and they sounded wary of going too far and taking away the financial incentives for companies and their scientists to explore new uses for DNA. "The patent law is filled with uneasy compromises," Justice Stephen G. Breyer said.
BUSINESS
May 15, 2013 | By Marc Lifsher, Los Angeles Times
SACRAMENTO - Gov. Jerry Brown is taking another stab at largely eliminating a state $700-million tax break for "enterprise zones" aimed at creating jobs in economically strapped localities. The governor failed in his efforts in 2011 to eliminate these politically popular quarter-century-old zones, located in the legislative districts of about three out of every four lawmakers. In his revised budget Tuesday, Brown proposed that 40 enterprise zones be replaced by a sales tax credit for companies that purchase manufacturing or biotech research and development equipment.
BUSINESS
April 24, 2013 | By Chad Terhune, Los Angeles Times
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.
BUSINESS
April 24, 2013 | By Chad Terhune
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.
BUSINESS
April 16, 2013 | By David G. Savage and Chad Terhune, Los Angeles Times
WASHINGTON - The Supreme Court took up a deceptively simple question in a case brought by breast cancer patients and medical researchers: Are human genes patentable? The answer appeared to be "no" during Monday's oral arguments. The justices signaled that they probably will bar any grants of exclusive and profitable patents on human genes that prevent other scientists from testing these pieces of DNA. But the justices were aware the issue itself was anything but simple, and they sounded wary of going too far and taking away the financial incentives for companies and their scientists to explore new uses for DNA. "The patent law is filled with uneasy compromises," Justice Stephen G. Breyer said.
NEWS
April 15, 2013 | By Jon Healey
When the Supreme Court took up the question Monday of whether genes could be patented , the justices were clearly concerned about preserving innovation in medicine and biotechnology. But the issue presented by Myriad Genetics' patents on the BRCA genes cuts both ways, leading to a potential split among the justices. On the one hand, allowing patents on a gene could prevent companies from developing new tests and drugs related to that sequence until the patent expires. On the other, barring patents could deter companies from making the huge investments needed to isolate sequences and determine their role in the body.
BUSINESS
January 18, 2013 | By Tiffany Hsu
Venture capital funding shriveled for the first time in three years in 2012, with investors funneling $26.5 billion to companies over 3,698 deals, according to a new report. That's a 10% drop in dollars and a 6% slide in deal volume, according to the National Venture Capital Assn. and PricewaterhouseCoopers in their MoneyTree report. Why the hesitation? “General economic uncertainty,” said HJ Paik, director of the Southern California Emerging Company Services practice at PwC, in a statement.
OPINION
June 27, 1999
Re "Scary Days for Freer Trade," editorial, June 18: To say that science has found little wrong with genetically altered produce is a distortion of the truth. Many scientists are very concerned. The fact is that genetically modified food is taking over the marketplace without any rigorous safety testing. There is no special labeling to tell consumers that they are buying altered food. We are all guinea pigs in a massive profit-oriented biotech experiment. Will the food affect us negatively over the long term or cause allergic reactions?
BUSINESS
November 15, 2008 | Times Wire Services
Pfizer Inc. said it had launched a biotechnology research unit focused on developing stem-cell-based treatments for a wide range of conditions. The unit, called Pfizer Regenerative Medicine, will be located in two of the global hubs for biotech research -- Cambridge, England, and Cambridge, Mass. New York-based Pfizer plans to invest about $100 million in the project over the next three to five years.
BUSINESS
December 18, 2012 | By Chad Terhune, Los Angeles Times
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.
BUSINESS
December 18, 2012 | By Chad Terhune, Los Angeles Times
Biotech giant Amgen Inc. pleaded guilty in federal court to improper marketing of its anemia drug Aranesp and has agreed to pay $762 million in criminal fines and civil settlements to resolve complaints from company whistle-blowers. Federal prosecutors in New York said the Thousand Oaks company was "pursuing profits at the risk of patient safety" by encouraging doctors to use its popular anemia drug for unapproved uses to boost sales and to take market share from a rival drug maker.
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