June 25, 1998 |
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.
July 1, 1997 |
Amgen said it expects changes in Medicare reimbursement rules to slow the sales growth of Epogen, one of its best-selling drugs, although it doesn't expect it to affect earnings significantly. Amgen said in a statement that it is "comfortable" with analysts' per-share earnings estimates of $2.80 to $2.85 for the year and 70 to 73 cents for the second quarter. It had earnings of 64 cents a share in the same quarter last year.
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.
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.
September 25, 1998 |
Transkaryotic Therapies Inc. and Hoechst Marion Roussel are about to begin late-stage human trials on a rival version of Amgen Inc.'s top-selling drug, the anemia treatment Epogen, Transkaryotic's chief executive said. The two companies will start the last of three trials needed to apply for Food and Drug Administration approval "within a matter of days," said Richard Selden. They're taking the move after a U.S.
CALIFORNIA | LOCAL
October 12, 1999 |
Amgen has dedicated a manufacturing facility in Longmont, Colo., which initially will produce Epoetin alfa, a protein marketed in the United States under the name Epogen. The drug is used to treat dialysis patients who suffer from anemia associated with kidney failure. Amgen officials said the Longmont plant eventually will produce other drugs as well.
May 15, 2000 |
The drug is already worth billions of dollars and could be worth billions more. No wonder Wall Street will be paying close attention this week as a 3-year-old fight over who is allowed to produce it finally goes to trial. Epogen, a red blood cell stimulator commonly used to treat anemia in kidney dialysis patients, accounted for $1.8 billion in U.S. sales last year for Thousand Oaks-based Amgen Inc., the world's largest biotechnology company. But a smaller company, Cambridge, Mass.
April 29, 1997 |
Amgen Inc. reported that its first-quarter profit rose 26% on increased sales of its two biggest drugs, Epogen and Neupogen. The Thousand Oaks-based company said net income rose to $180.3 million, or 65 cents a share, from $143.6 million or 51 cents in the year-earlier period. Revenue rose 13% to $575.5 million from $507.9 million in the year-earlier period.
July 24, 1990
Amgen Inc., a biotechnology company in Thousand Oaks that is reaping the early rewards of its new drug Epogen, said its fiscal first-quarter profit soared to $11.1 million from $835,000 a year earlier. The profit jump came on a surge in Amgen's revenue in the quarter that ended June 30, to $71.7 million from $28.5 million a year earlier.