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February 2, 1999 | James Peltz and Michael Hiltzik
Stock Exchange gives readers a chance to listen in as staff writers James Peltz and Michael Hiltzik debate the merits of individual stocks and other investments. Amgen (AMGN) Jim: Mike, our stock today is Amgen, the giant biotechnology company based in Thousand Oaks, and what a success story this outfit is. If there's a stock I think everyone wishes they had bought a few years ago, in addition to Microsoft, it might be Amgen.
The phones started ringing almost immediately at Amgen Inc. A dozen calls came in overnight to the biotechnology giant, and about 200 more came in during office hours Thursday. The callers had heard the promising news about Amgen's anti-obesity hormone, about how it had trimmed the fat in laboratory mice, and they wondered if it could do the same for them. They offered themselves for human trials of the newly discovered hormone, even though such tests are at least a year away.
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.
September 7, 2000 | Bloomberg News
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 12, 1994
Amgen Inc., the Thousand Oaks-based biotechnology company, said it has received government approval for expanded use of its red blood cell-producing factor Epogen. The drug can now be given to patients experiencing only moderate loss of red blood cells. Previously, Epogen use was restricted to patients with severe red blood cell loss. Epogen is commonly given to replenish the red blood cells of patients receiving kidney dialysis.
November 16, 1999 | BARBARA MURPHY
The U.S. Food and Drug Administration has approved the Amgen drug Epogen for the treatment of anemia in children with chronic kidney failure who are undergoing dialysis therapy. Epogen elevates or maintains the red blood cell level and virtually eliminates the need for blood transfusions in patients. The FDA's action came almost on the 10th anniversary of Epogen's initial approval for use with adults.
November 17, 1998 | Bloomberg News
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.
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.
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.
June 25, 1998 | From Bloomberg News
Shares of Amgen Inc., the world's largest biotechnology company, rose 6.5% as the government confirmed that Medicare will pay for the company's anemia treatment Epogen even if the drug boosts red blood cells over an earlier limit. Amgen's stock rose $4.06 to close at $66.75 in Nasdaq trading. The shares earlier hit a 52-week high of $67.25. Thousand Oaks-based Amgen could sell more Epogen because the federal government changed a 1997 rule on Medicare reimbursement for the drug.
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