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.
CALIFORNIA | LOCAL
March 14, 2000 |
Amgen Inc., the world's largest biotechnology company, has 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, will rise 3.9% because inflation is increasing its costs. The price rise may be a sign Amgen needs to boost profit because it plans to increase spending to introduce new products, an analyst said.
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.
August 27, 1998 |
In what could be a significant blow to Amgen Inc., the country's largest biotechnology company, researchers reported in today's New England Journal of Medicine that the dose of the company's $1-billion-a-year anti-anemia drug Epogen could be reduced by about a third in kidney dialysis patients simply by injecting the drug under the skin rather than giving it intravenously.
August 4, 1998 |
Amgen reported better-than-expected second-quarter earnings, citing eased restrictions on Medicare payments for its drug Epogen. Medicare said last year it would not pay for Epogen to treat anemic kidney-dialysis patients whose red-blood-cell count exceeded a certain level. That hurt sales of Epogen, which is paid for almost entirely by Medicare and made up half of Amgen's $2.4 billion in revenue for 1997. A U.S.
May 5, 1998 |
Amgen in Thousand Oaks said that first-quarter earnings rose 4%, beating expectations, as government restrictions on Medicare payments for one of its two major drugs hurt sales less than investors had feared. Amgen's net income rose to $187.3 million, or 71 cents a diluted share, from $180.3 million or 65 cents a year earlier.
April 28, 1998 |
Thousand Oaks-based Amgen Inc. will pay Johnson & Johnson $205 million to compensate for Amgen sales of an anemia drug for uses reserved to Johnson & Johnson in a licensing agreement. The arbitration ends an eight-year dispute stemming from a 1985 sales agreement that limits Amgen's U.S. sales of its Epogen drug to use in kidney dialysis patients.