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Amgen: Pipeline, Products, Performance and Potential
Espicom Business Intelligence Ltd, Oct 2008, Pages: 112
Amgen was incorporated in 1980 and is a global biotechnology company that discovers, develops, manufactures and markets human therapeutics. Amgen operates in one business segment, human therapeutics, and markets products in the areas of haematology, immunology, inflammation and oncology. Research and development efforts are focused on novel therapeutics for the treatment of haematology, inflammation, oncology, metabolic disorders and neuroscience.
Amgen is the worlds largest biotechnology company in terms of pharmaceutical sales and R&D expenditure. Fiscal 2007 was a difficult year for Amgen due slower sales growth coupled with costs incurred from acquisitions and expansion of infrastructure. Amgen believes the short-term loss in income is acceptible in light of the long-term advantages of improved facilties, broadened expertise and an expanded product portfolio and pipeline.
Amgens business is currently strongly focused in the US, with 80.5 per cent of sales being generated in this market, however, the company is endeavouring to expand its operations in foreign markets. In March 2007, Amgen completed a new European headquarters in Uxbridge, UK, which in conjunction with its expanded Cambridge, UK, R&D facilities, will conduct the companys largest ever international clinical trial programme across 31 European countries. Furthermore, Amgen is investing approximately US$1 billion in a new bulk manufacturing facility in Cork, Ireland, to provide compounds for the aforementioned trials and meet the demand for Amgens products in Europe.
Fiscal 2007 could have been a very strong year for Amgen, however, the performance of Aranesp was a significant let down. Safety issues have led to new usage guidelines for the product and others in its class. In the medium-term, this is expected to lead to further losses. Amgen will be hoping it can overcome these difficulties through its new infrastructure and increasingly expanding product portfolio.
Pharmaceutical company intelligence reports provide a full review of the companys activities together with five-year sales forecasts for its key products. The companys financial performance is covered in-depth, from its latest results to a complete analysis of its latest full fiscal year and an outlook for the future. A section on company strategy covers mergers, acquisitions and divestitures, key agreements, products and R&D. An overview of key products and R&D is followed by a comprehensive review of the companys product portfolio and research and development pipeline by therapeutic area. In addition, supplementary appendices provide more in-depth information on financials, agreements and corporate events.
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