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."
November 18, 2011 |
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.
February 6, 2008 |
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.
October 20, 2005 |
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.
April 25, 2008 |
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.