September 7, 2000 |
An Amgen Inc. lawyer testified before a federal judge that the company's application for a patent covering its top-selling anemia drug Epogen was based on the "best information" available at the time. Michael Borun, under questioning by an attorney for rival drug maker Transkaryotic Therapies Inc., denied knowingly providing patent examiners with false information.
July 22, 2000 |
Amgen Inc. won a preliminary victory Friday in its patent dispute with Transkaryotic Therapies Inc. over the best-selling anemia drug Epogen. U.S. District Judge William Young limited Transkaryotic's ability to claim Amgen's patents are invalid. The judge postponed until at least September a final ruling in the patent fight. Young reserved judgment on whether Transkaryotic infringed Amgen's patents and certain other defenses. The judge has been trying the case without a jury since May.
March 29, 2000 |
Shares of Thousand Oaks-based Amgen Inc. rose 4%, gaining for a second day, as analysts said the world's No. 1 biotechnology company won an early round over rival Transkaryotic Therapies Inc. in a patent dispute involving Amgen's best-selling drug. U.S. District Judge William Young in Boston supported several Amgen claims during the last two days in a preliminary hearing over patents on Amgen's best-selling product, the $1.8-billion-a-year anemia treatment Epogen.
March 28, 2000 |
Shares of Amgen Inc. rose 9% Monday as the world's biggest biotechnology company went to court for preliminary hearings on its bid to keep rival Transkaryotic Therapies Inc. from introducing a version of Amgen's blockbuster anemia drug Epogen in the U.S. Amgen shares rose $5.81 to close at $60.38 on the Nasdaq Stock Market. Transkaryotic shares fell $7.88, or 10%, to close at $70.25, also on Nasdaq. At stake is one of the world's top-selling medicines.
February 29, 2000 |
Shares of Amgen Inc. fell 7% Monday after the world's No. 1 biotechnology company raised the price of its anemia drug Epogen for the first time in the drug's 11-year history. Amgen spokesman Peter Teeley said the price of Epogen, the company's best-selling product, would rise 3.9% because inflation has increased the company's costs. Analysts said the price change would only affect some of the company's customers and wasn't big enough to boost Amgen's earnings.
CALIFORNIA | LOCAL
May 4, 1999
Biotech giant Amgen in Thousand Oaks said first-quarter earnings rose 32% as sales of its blockbuster anemia drug Epogen soared. Net income rose to $247 million or 46 cents a share, up from $187 million or 35 cents a year earlier. The results exceeded the 44-cent average estimate of analysts surveyed by First Call Corp. Revenue rose 23% to $745.4 million from $605.4 million, led by a 30% increase in sales of Epogen, which reached $395 million.
December 19, 1998 |
Amgen Inc. said Friday that it has won a long-running licensing dispute with pharmaceutical giant Johnson & Johnson in an arbitration decision that could allow Amgen to enter a multibillion-dollar drug market from which it has been excluded. "It's a total victory," said Andrea Rothschild, spokesperson for Thousand Oaks-based Amgen, the world's largest biotechnology company.
December 8, 1998 |
Medicare payments for Amgen Inc.'s Epogen and other drugs would be reduced under a $2-billion proposal introduced by President Clinton. The administration last month signaled Clinton's intention to try to get Congress to cut payments for the anti-anemia drug. Epogen accounted for about half of Amgen's 1997 revenue, much of that from the government Medicare health insurance program.
November 17, 1998 |
The Clinton administration is developing a regulation that would slash Medicare payments for Amgen Inc.'s anti-anemia drug, Epogen, according to the Federal Register. The notice means the administration plans to proceed with drawing up a proposal on reducing Medicare's reimbursement for Epogen, a Clinton administration spokesman said. Investors and analysts say the Clinton administration is going to keep pushing for this rate cut as part of its effort to control exploding Medicare costs.