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Epogen

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BUSINESS
July 7, 1998 | BARBARA MURPHY
Medicare has decided to broaden its criteria for payment of Amgen's top drug, the anemia treatment Epogen. The Health Care Financing Administration, which runs Medicare, indicated in March that it would raise the limit on red blood cell production for Epogen users. The agency recently sent a letter to insurers about the change, Amgen said. "It's the first time they agreed to the change in writing," said David Kaye, a spokesman for the Thousand Oaks-based Amgen. Epogen made up almost half of Amgen's $2.4 billion in 1997 revenue.
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BUSINESS
May 6, 2013 | By Stuart Pfeifer, Los Angeles Times
Amgen Inc. is a biotechnology company that develops medicines used in the treatment of cancer, kidney disease, arthritis, bone disease and other serious illnesses. The Thousand Oaks company's top-selling products include arthritis medication Enbrel, osteoporosis drug Prolia and anemia medicines Aranesp and Epogen. And its Neulasta helps the body generate white-blood cells to prevent infection during chemotherapy treatment. Amgen earned $4.3 billion last year on record revenue of $17.3 billion.
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BUSINESS
January 7, 2003 | Denise Gellene, Times Staff Writer
A federal appeals court Monday handed Amgen Inc. a setback in the long-running dispute over patents covering Epogen, the Thousand Oaks-based company's best-selling drug. The U.S. Court of Appeals returned the case to federal district court in Boston, where Amgen prevailed over rival Transkaryotic Therapies Inc. last January. In a 68-page decision, the appellate court said it agreed with the lower court's ruling that Transkaryotic's Dynepo infringed two Amgen patents.
BUSINESS
November 18, 2011 | Reuters
Amgen Inc., aiming to secure future sales of its flagship anemia drug Epogen as potential competition emerges, has reached new supply contracts with the two largest operators of U.S. kidney dialysis clinics. The Thousand Oaks biotechnology company said in a regulatory filing Friday that it had signed a seven-year contract to provide clinic operator DaVita Inc. with at least 90% of its anemia drug needs. Amgen also entered into a multiyear agreement, starting in January, to supply Epogen on a nonexclusive basis to Fresenius Medical Care, according to Amgen spokeswoman Christine Regan.
BUSINESS
June 23, 1989
Drug Reimbursements Approved: The federal Health Care Financing Administration has agreed to reimburse kidney dialysis centers when patients use Amgen Inc.'s new Epogen drug, retroactive to June 1. Epogen is the brand name for erythropoietin, a protein developed by the Thousand Oaks biotechnology company that is used to treat chronic anemia by stimulating production of red blood cells. Amgen said the U.S. will reimburse about 80% of a patient's treatment costs, with states covering the balance.
CALIFORNIA | LOCAL
August 18, 1989
Rep. Fortney H. Stark (D-Oakland) would like to see Americans receive a "fair deal" for their Medicare dollar. We agree. Too bad he didn't extend the same deal to EPOGEN and its manufacturer, Amgen. In his Aug. 2 column, "A Miracle Drug for Some but a Tax Drain for All," Stark charges that Amgen will reap untold profits from Medicare for its drug EPOGEN, a revolutionary treatment for the anemia suffered by kidney dialysis patients. We cannot understand why Stark is vilifying EPOGEN, which he, along with leading nephrologists, calls "a miracle drug."
BUSINESS
November 18, 2011 | Reuters
Amgen Inc., aiming to secure future sales of its flagship anemia drug Epogen as potential competition emerges, has reached new supply contracts with the two largest operators of U.S. kidney dialysis clinics. The Thousand Oaks biotechnology company said in a regulatory filing Friday that it had signed a seven-year contract to provide clinic operator DaVita Inc. with at least 90% of its anemia drug needs. Amgen also entered into a multiyear agreement, starting in January, to supply Epogen on a nonexclusive basis to Fresenius Medical Care, according to Amgen spokeswoman Christine Regan.
BUSINESS
May 6, 2013 | By Stuart Pfeifer, Los Angeles Times
Amgen Inc. is a biotechnology company that develops medicines used in the treatment of cancer, kidney disease, arthritis, bone disease and other serious illnesses. The Thousand Oaks company's top-selling products include arthritis medication Enbrel, osteoporosis drug Prolia and anemia medicines Aranesp and Epogen. And its Neulasta helps the body generate white-blood cells to prevent infection during chemotherapy treatment. Amgen earned $4.3 billion last year on record revenue of $17.3 billion.
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
October 20, 2005 | Denise Gellene, Times Staff Writer
Biotechnology giant Amgen Inc. reported sharply higher third-quarter earnings Wednesday, led by sales of its anemia drug Aranesp. The Thousand Oaks-based company had earnings of $967 million, or 77 cents a share, compared with $236 million, or 18 cents, for the year-earlier quarter, when results where hurt by charges related to the acquisition of Tularik Inc. of South San Francisco. Revenue increased 16% to $3.2 billion from $2.6 billion in the third quarter of 2004.
BUSINESS
April 21, 2011 | Reuters
Amgen Inc. provided a long-term financial forecast above Wall Street estimates and said it would begin paying a dividend this year amounting to about 20% of its adjusted net income, and increasing in the future. The world's largest biotechnology company, seeking to map out its growth strategy, told a meeting of investors and analysts in New York on Thursday that it expects 2015 revenue of $16 billion to $18 billion and earnings of $7.25 a share to $8.60 a share. Analysts on average are estimating 2015 earnings of $7.16 a share and revenue of $16.95 billion, according to Thomson Reuters, but Amgen shares fell 4.5% Thursday.
BUSINESS
April 22, 2010 | Times Wire Reports
Amgen Inc. said Wednesday that higher sales of its anti-infection drugs helped lift first-quarter profit by 15%, but the biotech drugmaker cautioned that healthcare reform measures will tamp down full-year results. The company said the recently passed healthcare legislation will trim $200 million to $250 million from fiscal 2010 results. Amgen expects adjusted profit and revenue will come in toward the lower end of its forecast of $5.05 to $5.25 a share on sales of $15.1 billion to $15.5 billion as a result.
BUSINESS
February 17, 2010 | By Andrew Zajac
Physicians who want to prescribe Amgen Inc.'s anti-anemia drugs for cancer patients will have to register and undergo special training under a risk-management plan unveiled Tuesday by the Food and Drug Administration. Amgen also will require physicians to collect signed statements from patients attesting that they have been informed about the dangers of the drugs. Studies have shown that the drugs can cause tumors to grow faster and shorten the lives of some cancer patients. They may also increase risk of heart failure, blood clots and stroke.
BUSINESS
April 25, 2008 | From the Associated Press
Amgen Inc., the world's largest biotech company in revenue, reported first-quarter profit Thursday that beat Wall Street expectations as cost cutting helped offset plunging sales of its anemia drugs. The Thousand Oaks-based company posted net income of $1.14 billion, or $1.04 a share, for the quarter that ended March 31, compared with $1.11 billion, or 94 cents, a year earlier. Excluding stock options and other one-time expenses, Amgen would have earned $1.22 billion, or $1.12 a share.
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
October 20, 2005 | Denise Gellene, Times Staff Writer
Biotechnology giant Amgen Inc. reported sharply higher third-quarter earnings Wednesday, led by sales of its anemia drug Aranesp. The Thousand Oaks-based company had earnings of $967 million, or 77 cents a share, compared with $236 million, or 18 cents, for the year-earlier quarter, when results where hurt by charges related to the acquisition of Tularik Inc. of South San Francisco. Revenue increased 16% to $3.2 billion from $2.6 billion in the third quarter of 2004.
BUSINESS
April 25, 2008 | From the Associated Press
Amgen Inc., the world's largest biotech company in revenue, reported first-quarter profit Thursday that beat Wall Street expectations as cost cutting helped offset plunging sales of its anemia drugs. The Thousand Oaks-based company posted net income of $1.14 billion, or $1.04 a share, for the quarter that ended March 31, compared with $1.11 billion, or 94 cents, a year earlier. Excluding stock options and other one-time expenses, Amgen would have earned $1.22 billion, or $1.12 a share.
BUSINESS
April 21, 2011 | Reuters
Amgen Inc. provided a long-term financial forecast above Wall Street estimates and said it would begin paying a dividend this year amounting to about 20% of its adjusted net income, and increasing in the future. The world's largest biotechnology company, seeking to map out its growth strategy, told a meeting of investors and analysts in New York on Thursday that it expects 2015 revenue of $16 billion to $18 billion and earnings of $7.25 a share to $8.60 a share. Analysts on average are estimating 2015 earnings of $7.16 a share and revenue of $16.95 billion, according to Thomson Reuters, but Amgen shares fell 4.5% Thursday.
BUSINESS
July 9, 2004 | Denise Gellene, Times Staff Writer
Sales of Amgen Inc.'s best-selling drug Epogen would fall if a new Medicare policy, released in draft form Thursday, went into effect, an agency official said. The proposal called for stricter review of reimbursement claims submitted for Epogen and other changes that would lower Medicare's payments for the drug, which totaled $1.2 billion in 2002. An Amgen spokeswoman said the Thousand Oaks company was reviewing the one-page draft and had no comment on its specific provisions.
BUSINESS
January 7, 2003 | Denise Gellene, Times Staff Writer
A federal appeals court Monday handed Amgen Inc. a setback in the long-running dispute over patents covering Epogen, the Thousand Oaks-based company's best-selling drug. The U.S. Court of Appeals returned the case to federal district court in Boston, where Amgen prevailed over rival Transkaryotic Therapies Inc. last January. In a 68-page decision, the appellate court said it agreed with the lower court's ruling that Transkaryotic's Dynepo infringed two Amgen patents.
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