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|Traded as||NASDAQ: AMGN
S&P 500 Component
|Headquarters||Thousand Oaks, California, U.S.|
|Key people||Robert A. Bradway
Robert A. Bradway
(President and CEO)
|Products||Epogen, Aranesp, Kineret, Enbrel, Neulasta, Neupogen, Nplate, Vectibix, Prolia, Xgeva and Sensipar/Mimpara.|
|Revenue||US$ 15.582 billion (2011)|
|Operating income||US$ 4.312 billion (2011)|
|Net income||US$ 3.683 billion (2011)|
|Total assets||US$ 48.871 billion (2011)|
|Total equity||US$ 19.029 billion (2011)|
|Employees||17,800 (December 2011)|
Amgen (Applied Molecular Genetics) is an American multinational biopharmaceutical company headquartered in Thousand Oaks, California. Located in the Conejo Valley, Amgen is the world's second largest independent biotechnology firm. Epogen and Neupogen (the company's first products on the market) were the two most successful biopharmaceutical products at the time of their respective releases.
Amgen is the largest employer in Thousand Oaks and second only to the United States Navy in terms of number of people employed in Ventura County. BusinessWeek ranked Amgen first on the S&P 500 for being one of the most "future-oriented" of those five hundred corporations. BusinessWeek ostensibly calculated the ratio of research and development spending, combined with capital spending, to total outlays; Amgen had the fourth highest ratio, at 506:1000.
The company employs approximately 17,000 staff members. Its products include Epogen, Aranesp, Enbrel, Neulasta, Neupogen, Sensipar/Mimpara, Nplate, Vectibix, Prolia and XGEVA. Amgen has several collaborative arrangements with Pfizer Inc, GlaxoSmithKline, Takeda Pharmaceutical Company, Kyowa Hakko Kirin, Daiichi Sankyo, and Array BioPharma. It is a leading member of the U.S. Global Leadership Coalition, a coalition of over 400 companies and NGOs that promotes increased funding for U.S. diplomatic and international development programs. In 2010, Amgen began sponsoring the Tour of California, one of only three major Union Cycliste Internationale events in the United States. A large number of personnel on Amgen property are employed by subcontractors.
The word AMGen is a portmanteau of the company's original name, Applied Molecular Genetics, which became the official name of the company in 1983 (three years after incorporation and coincident with its initial public offering). The company's first chief executive officer, from 1980, was George B. Rathmann, followed by Gordon M. Binder in 1988, followed by Kevin W. Sharer in 2000. Robert A. Bradway became Amgen’s president and chief executive officer in May 2012 following Sharer's retirement.
The company has made at least five major corporate acquisitions.
- 1998. In August 1998, Amgen and certain of its officers were charged for issuing false statements regarding its two flagship products, Epogen and Neupogen. In 2000, a settlement of $1 million was reached.
- 2008. Forbes magazine ranks AMGEN CEO Kevin Sharer 169 out of 175. Rankings were based on performance versus pay metrics.
- 2009. Sen. Edward Kennedy introduced a bill granting AMGEN and other biotech companies more than 13 years of marketing exclusivity. Kennedy Institute receives $5 million from Amgen.
- 2010. AMGEN spends a record $10.2 million on lobbying activities. Data based on Senate Office of Public Records.
- 2012. Illegal marketing practices. The Los Angeles Times reported on December 18, 2012, that AMGEN pled guilty and agreed to pay $150 million in criminal penalty and $612 million to resolve 11 related whistleblower complaints. Federal prosecutors accused the company of pursuing profits while putting patients at risk. Larry Husten, a contributor at Forbes.com elaborates on AMGEN's illegal marketing practices in this case, namely that the "government accused Amgen of marketing Aranesp for indications not approved by the FDA and other illegal marketing practices". One of the drugs mentioned in the lawsuit had sales of $492 million in the third quarter of 2012, down 17% from the same quarter the previous year due to "reimbursement problems and label changes". In addition, the drug Aranesp failed in heart trials, as it failed to meet its primary endpoints. Adverse effects include cardiac failure, diarrhea, congestive heart failure, and dizziness.
- 2012. Kathleen Sharp publishes a book entitled Blood Medicine: Blowing the Whistle on One of the Deadliest Prescription Drugs Ever. It covers, amongst other subjects, Amgen's early history and involvement in developing blood boosters used by cyclists like Lance Armstrong.
- 2012. Amgen paid $762 million after pleading guilty to criminal charges of improper promotion and sale of misbranded drugs.
- 2013. Aggressive Lobbying. Lawmakers, allegedly maneuvered by a team of 74 AMGEN lobbyists, inserted text into the fiscal cliff bill that will allow the drugmaker to sell a class of drugs that includes Sensipar without government controls for an additional two years. The paragraph in the fiscal cliff bill will cost taxpayers an estimated $500 million. A nonprofit group, led by Russ Feingold, filed a petition against Amgen's fiscal cliff deal at the end of January. The executive at Amgen in charge of U.S. Government Affairs is Senior Vice President Victoria H. Blatter.
- 2013 the FDA halted Amgen's studies of its parathyroid drug Sensipar after the death of a 14-year-old patient in a company trial.
- 1994 – Synergen, Inc.
- 2000 – Kinetix Pharmaceuticals, Inc.
- 2002 – Immunex Corporation
- 2004 – Tularik, Inc.
- 2006 – Abgenix, Inc.
- 2006 – Avidia, Inc.
- 2007 – Ilypsa, Inc.
- 2007 – Alantos Pharmaceuticals Holdings, Inc.
- 2011 – BioVex Group, Inc.
- 2011 – Laboratório Químico Farmacêutico Bergamo Ltda.
- 2012 – Micromet, Inc.
- 2012 – Mustafa Nevzat İlaç
- 2012 – KAI Pharmaceuticals
- 2012 – deCODE genetics
- 2013 – Onyx Pharmaceuticals Inc.
As of August 9, 2011, Amgen had twelve approved drugs or therapeutic biologicals for seventeen conditions (conditions lists are highly generalized; see each article for more detail):
- Aranesp (darbepoetin alfa) (for anemia)
- Enbrel (Etanercept) (for various forms of arthritis)
- Epogen (Epoetin) (also known as Procrit; for anemia)
- Kepivance (Palifermin) (for oral mucositis)
- Kineret (Anakinra) (for rheumatoid arthritis)
- Neupogen (Granulocyte-Colony Stimulating Factor) (for neutropenia)
- Neulasta (PEG Granulocyte-Colony Stimulating Factor or "Pegfilgrastim") (for neutropenia)
- Vectibix (Panitumumab) (for colon cancer)
- Sensipar/Mimpara (Cinacalcet) (for Primary & Secondary hyperparathyroidism, a mineral metabolism complication common in patients with kidney failure)
- Nplate (Romiplostim) (for chronic immune thrombocytopenic purpura)
- Prolia (denosumab) (for postmenopausal osteoporosis)
- XGEVA (denosumab) (for the prevention of skeletal-related events (SREs) (pathological fracture, radiation to bone, spinal cord compression or surgery to bone in adults with bone metastases from solid tumors)
In other drug discovery phases (Phases I, II, III and in preclinical development), the company has 23 pharmacologic agents for 28 conditions; 19 of the candidates are not currently approved for any indication.
- "Amgen, Form 10-K, Annual Report, Filing Date Feb 29, 2012". secdatabase.com. Retrieved Jan 8, 2013.
- Coy, Peter (2004-10-11). "The Search for Tomorrow". BusinessWeek. access to article requires free registration on site
- Dineen, J.K.; Leuty, Ron (August 12, 2007). "Amgen Slows its Bay Area Expansion". San Francisco Business Times web site. Retrieved August 14, 2007.
- "Amgen, Form 10-K, Annual Report, Filing Date Mar 24, 1998". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 10-K405, Filing Date Mar 7, 2000". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date May 24, 2012". secdatabase.com. Retrieved Jan 8, 2013.
- Caroline Humer (28 June 2013). "U.S. biotech Amgen offered to buy Onyx for $120 per share: report". Reuters.
- "Class Action Against Amgen, Inc.".
- Silverman, Ed. "Amgen’s Kevin Sharer: One Of The Worst CEOs". Pharmalot.
- Noah, Timothy. "An Amgen Payoff?". Slate Magazine. Retrieved 3 February 2013.
- "Influence & Lobbying". Center for Responsive Politics.
- Terhune, Chad. "Amgen pleads guilty to improper marketing of anemia drug Aranesp". Los Angeles Times. Retrieved 2 February 2013.
- Husten, Larry. "Amgen Pleads Guilty To Misbranding Anemia Drug Aranesp". Forbes. Retrieved 2 February 2013.
- Grogan, Kevin. "Amgen's Aranesp fails in heart trial, Singapore plant planned". Pharma Times. Retrieved 2 February 2013.
- Sharp, Kathleen. "Blood Medicine: Blowing the Whistle on One of the Deadliest Prescription Drugs Ever". Plume. Retrieved 3 February 2013.
- Fastman, Brandon. "rugs, Dollars, and Death Kathleen Sharp’s New Book, Blood Feud, Pulls Back the Curtain on a Broken Healthcare System". Santa Barbara Independent. Retrieved 3 February 2013.
- "Amgen Inc. pleads guilty to federal charge in Brooklyn and pays $762 million to resolve criminal liability and civil fraud allegations" (Press release). Department of Justice – Office of Public Affairs. December 19, 2012. Retrieved 3 October 2013.
- Lipton, Eric. "Fiscal Footnote: Big Senate Gift to Drug Maker". New York Times. Retrieved 2 February 2013.
- Johnson, Luke. "Russ Feingold's Progressives United Launches Petition Against Amgen's Fiscal Cliff Deal". The Huffington Post.
- "About". Amgen.
- "FDA halts Amgen drug trial after 14-year-old dies". CBS News. Retrieved 26 February 2013.
- "Amgen, Form 8-K/A, Filing Date Feb 2, 1995". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 425, Filing Date Oct 16, 2000". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date Dec 17, 2001". secdatabase.com. Retrieved Jan 8, 2013.
- Amgen Completes Acquisition Of IMMUNEX
- "Amgen, Form 8-K, Current Report, Filing Date Mar 29, 2004". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date Dec 15, 2005". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date Apr 24, 2006". secdatabase.com. Retrieved Jan 8, 2013.
- Amgen Completes Acquisition of Abgenix; Acquisition Provides Amgen with Full Ownership of Panitumumab and Eliminates a Denosumab Royalty
- "Amgen, Form 8-K, Current Report, Filing Date Sep 29, 2006". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 10-Q, Quarterly Report, Filing Date Aug 9, 2007". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date Jan 25, 2011". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 10-Q, Quarterly Report, Filing Date May 10, 2011". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date Jan 26, 2012". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 8-K, Current Report, Filing Date Apr 30, 2012". secdatabase.com. Retrieved Jan 8, 2013.
- "Amgen, Form 10-Q, Quarterly Report, Filing Date May 8, 2012". secdatabase.com. Retrieved Jan 8, 2013.
- Guha, Malini (October 8, 2013). "Amgen swallows Onyx whole". Nature Biotechnology 31: 859—860. doi:10.1038/nbt1013-859. Retrieved November 6, 2013.
- Official website
- Amgen SEC Filings
- Company Profile at Pharmaceutical Business Review
- Amgen Inc. Company Profile Profile at Google Finance.