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BUSINESS
March 18, 2008 | From Times Wire Services
Amgen Inc. and Wyeth added the strongest Food and Drug Administration warning to the prescribing information for the arthritis drug Enbrel to highlight the risk of infections, including tuberculosis. The information, already in boldface, must now be highlighted inside a boxed border, the companies said. In global studies of more than 20,000 patients taking Enbrel, tuberculosis was observed in about 200 people, the companies said.
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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.
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BUSINESS
September 23, 2008 | From Times Wire Services
Biotechnology giant Amgen Inc. won a court ruling that its Enbrel arthritis drug doesn't infringe a 2002 patent held by Ariad Pharmaceuticals Inc. "The evidence of record establishes that Enbrel acts outside of cells, rather than inside the cells," as the patent requires, U.S. Magistrate Judge Mary Pat Thynge wrote. Amgen, in Thousand Oaks, sued Ariad in federal court in Delaware in 2006 seeking a ruling that it doesn't infringe, prompting a counterclaim from Ariad last year. Enbrel generated sales of $3.2 billion in 2007, or 22% of Amgen's total.
BUSINESS
January 27, 2009 | TIMES WIRE REPORTS
Amgen Inc.'s profit grew 15% in the fourth quarter, mostly as a result of lower expenses, the company said Monday. Amgen's profit rose to $961 million, or 91 cents per share, compared with $835 million, or 76 cents, a year earlier. Revenue was essentially unchanged at $3.75 billion, as sales rose for its anti-infection drug Neulasta and rheumatoid arthritis treatment Enbrel while sales of its anemia drugs declined further. Excluding one-time costs, Amgen said it earned $1.12 billion in the quarter, or $1.06 per share, up from $1.09 billion, or $1 per share, a year earlier.
BUSINESS
June 19, 2008 | From Times Wire Services
Amgen Inc. won an advisory panel's support for the use of its drug Enbrel in children with moderate to severe psoriasis. The outside experts voted, 8 to 5, to recommend that the Food and Drug Administration expand Enbrel's approved uses to children with the sometime debilitating skin disorder, after testimony weighing the drug's benefits against its potential for cancer and other side effects. The FDA isn't required to follow the panel's lead, though it usually does.
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
December 14, 2001 | DENISE GELLENE and STUART SILVERSTEIN, TIMES STAFF WRITERS
Amgen Inc., the world's largest biotechnology company, is in talks to buy rival Immunex Corp. for about $17 billion in cash and stock, people familiar with the negotiations said Thursday. The deal, if completed, would put some of the most promising biotechnology drugs today under one roof and would combine Amgen's manufacturing capability with Immunex's scientific expertise in the growing field of anti-inflammatory drugs.
BUSINESS
January 27, 2009 | TIMES WIRE REPORTS
Amgen Inc.'s profit grew 15% in the fourth quarter, mostly as a result of lower expenses, the company said Monday. Amgen's profit rose to $961 million, or 91 cents per share, compared with $835 million, or 76 cents, a year earlier. Revenue was essentially unchanged at $3.75 billion, as sales rose for its anti-infection drug Neulasta and rheumatoid arthritis treatment Enbrel while sales of its anemia drugs declined further. Excluding one-time costs, Amgen said it earned $1.12 billion in the quarter, or $1.06 per share, up from $1.09 billion, or $1 per share, a year earlier.
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
March 4, 2004 | Denise Gellene
Genentech Inc. of South San Francisco disclosed in a regulatory filing that it was unlikely to produce Enbrel, an arthritis drug, for biotech rival Amgen Inc. on schedule. Enbrel, with sales of $1.3 billion in 2003, is a key growth driver for Thousand Oaks-based Amgen but a shortage of production capacity has hurt sales in the past.
BUSINESS
September 23, 2008 | From Times Wire Services
Biotechnology giant Amgen Inc. won a court ruling that its Enbrel arthritis drug doesn't infringe a 2002 patent held by Ariad Pharmaceuticals Inc. "The evidence of record establishes that Enbrel acts outside of cells, rather than inside the cells," as the patent requires, U.S. Magistrate Judge Mary Pat Thynge wrote. Amgen, in Thousand Oaks, sued Ariad in federal court in Delaware in 2006 seeking a ruling that it doesn't infringe, prompting a counterclaim from Ariad last year. Enbrel generated sales of $3.2 billion in 2007, or 22% of Amgen's total.
BUSINESS
June 19, 2008 | From Times Wire Services
Amgen Inc. won an advisory panel's support for the use of its drug Enbrel in children with moderate to severe psoriasis. The outside experts voted, 8 to 5, to recommend that the Food and Drug Administration expand Enbrel's approved uses to children with the sometime debilitating skin disorder, after testimony weighing the drug's benefits against its potential for cancer and other side effects. The FDA isn't required to follow the panel's lead, though it usually does.
BUSINESS
May 2, 2008 | From Times Wire Services
Amgen Inc. and Wyeth's arthritis and psoriasis medicine Enbrel has been linked to deadly infections including tuberculosis and bacterial sepsis, U.S. regulators said. The companies added the Food and Drug Administration's strictest warning about the risk of infections to Enbrel's prescribing information after hospitalizations and deaths were seen in some patients taking the medicine, according to the agency's website.
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.
HEALTH
June 26, 2006 | Shari Roan, Times Staff Writer
Reports of success in treating Alzheimer's disease using injections of the arthritis drug Enbrel have sparked hope among Alzheimer's patients and their families -- and some concern among physicians. A recent study reported improvement in cognitive symptoms among 15 Alzheimer's patients who received weekly injections of Enbrel for six months.
BUSINESS
June 7, 2006 | From the Associated Press
Amgen Inc. has agreed to pay Massachusetts General Hospital $186 million to settle a dispute over royalties the Boston hospital was paid for its role in helping to develop Enbrel, a drug used to treat rheumatoid arthritis and psoriasis. The one-time payment will free Thousand Oaks-based Amgen from obligations to pay future royalties from North American sales of Enbrel, the hospital said Tuesday after the settlement was reported in the Boston Globe.
BUSINESS
May 1, 2004 | From Reuters
Amgen Inc. won U.S. approval Friday to market its rheumatoid arthritis drug Enbrel as a treatment for the skin disorder psoriasis. A Food and Drug Administration spokeswoman said Enbrel had been approved for chronic moderate to severe psoriasis, an inflammatory condition that causes red, scaly patches of skin and afflicts more than 7 million people in the United States.
BUSINESS
February 19, 2005 | From Times Staff and Wire Reports
The Food and Drug Administration demanded Friday that Amgen Inc. pull television ads that the agency said made misleading claims about the company's psoriasis drug, Enbrel. The FDA said Amgen needed to take corrective measures to ensure that people who saw the ads got the truth. The TV spots depicted exuberant adults with perfectly clear skin running along a beach and splashing in a pool.
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