Amgen Inc.

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  • Aug. 14, 2013, 11:07 PM
    • Discussions between Amgen (AMGN) and Onyx Pharmaceuticals (ONXX) have stalled due to ONXX's unwillingness to turn over data from an ongoing study of Kyprolis.
    • ONXX "doesn’t want to obtain results before the study is done as it may slow the approval process," Bloomberg says, citing people familiar with the matter.
    • If the dispute can be resolved, a deal could materialize in short order, as the two sides are reportedly in agreement on price ($130 per ONXX share).
    | Aug. 14, 2013, 11:07 PM
  • Aug. 10, 2013, 3:35 PM
    • It's a "tiny, tiny, tiny, tiny, little drug, barely on the radar screen," prominent cardiologist Steven Nissen tells Barron's, regarding Isis Pharmaceutical's (ISIS) HoFH treatment Kynamro.
    • Also quoted in the article is a Yale Medical School professor (and Familial Hypercholesterolemia Foundation advisor) who estimates only 30-40 scripts have been written for the drug since it was approved.
    • Barron's also questions Kynamro's chances of success in head-to-head competition with Aegerion's (AEGR) better tolerated HoFH drug Juxtapid (which has some serious momentum).
    • As for a potential HeFH indication, pipeline PCSK9 inhibitors being developed by Amgen (AMGN), Sanofi (SNY), and Pfizer (PFE) raise serious questions about Kynamro's ability to remain competitive in the space, Leslie Norton says.
    | Aug. 10, 2013, 3:35 PM | 19 Comments
  • Aug. 6, 2013, 4:06 PM
    • Amgen (AMGN) will reportedly raise its bid for Onyx Pharmaceuticals (ONXX) to $130 from $120.
    • Update 4:20: ONXX now fractionally lower AH.
    | Aug. 6, 2013, 4:06 PM | 2 Comments
  • Jul. 30, 2013, 4:39 PM
    • Amgen (AMGN) Q2 beats across the board, but net earnings edged lower as increased expenses for acquisition- and reorganization-related charges and other items masked higher revenue growth.
    • R&D expenses increased 17%, mostly in support of its later-stage clinical programs.
    • Neulasta sales rose 10% amid price increases, higher wholesaler inventory and a Medicaid rebate adjustment. Sales of Enbrel were up 9% on higher prices, Xgeva and Prolia reported sales growth of 39% and 57%, respectively.
    • The company ups FY13 guidance, now expecting an EPS of $7.30 - $7.45 on sales of $17.80B - 18.20B.
    | Jul. 30, 2013, 4:39 PM
  • Jul. 30, 2013, 4:27 PM
    • Amgen (AMGN): Q2 EPS of $1.89 beats by $0.15.
    • Revenue of $4.68B (+4% Y/Y) beats by $190M. (PR)
    • Shares +2% AH.
    | Jul. 30, 2013, 4:27 PM
  • Jul. 30, 2013, 12:10 AM
  • Jul. 29, 2013, 5:35 PM
  • Jul. 26, 2013, 5:01 PM
    Amgen Inc. (AMGN) declares $0.47/share quarterly dividend, in line with previous. Forward yield 1.72%. For shareholders of record Aug. 16. Payable Sept. 6. Ex-div Aug. 14. (PR)
    | Jul. 26, 2013, 5:01 PM
  • Jul. 22, 2013, 12:27 PM

    Onyx Pharmaceuticals (ONXX +2.7%) pops as a bidding war could be developing. Amgen (AMGN) may still bid for the company, reports Bloomberg, with Pfizer (PFE), Novartis (NVS), and AstraZeneca (AZN) also reportedly prepping their own offers.

    | Jul. 22, 2013, 12:27 PM | 1 Comment
  • Jul. 16, 2013, 10:43 AM

    Amgen (AMGN -0.1%) says that the Lancet Oncology published positive interim results from Phase 2 clinical trials of Xgeva in adults and skeletally mature adolescents diagnosed with giant cell tumor of bone. Data showed that 96% of patients with surgically unsalvageable GCTB had no disease progression after a median follow-up of 13 months. In those with salvageable cancer whose surgery was associated with severe morbidity, 74% required no surgery, and 62% who had surgery underwent a less morbid procedure than planned. Overall, 72 percent of patients had objective tumor response.

    | Jul. 16, 2013, 10:43 AM
  • Jul. 9, 2013, 10:00 AM

    Amgen (AMGN +0.6%) and France's Servier forge a cardiovascular deal in which Amgen is obtaining the commercial U.S. rights to Servier's Procoralan oral drug for chronic heart failure and stable angina. Amgen is paying $50M up front and milestone and royalty payments. Procoralan is approved in the EU and 100 countries excluding the U.S. Amgen is also getting an exclusive option to develop Servier's S38844 therapy in the U.S. For its part, Servier obtains the rights to commercialize Amgen's and Cytokinetics' (CYTK) omecamtiv mecarbil treatment in Europe. (PR)

    | Jul. 9, 2013, 10:00 AM
  • Jul. 8, 2013, 7:29 AM

    Novartis' (NVS) secukinumab drug was better at clearing skin in patients with moderate-to-severe plaque psoriasis than Amgen's (AMGN) Enbrel in a Phase III trial in which secukinumab met all its primary and secondary targets. Plaque psoriasis is a painful skin condition characterized by itching and scaling, and it affects 125M people. (PR) Meanwhile, NICE, the U.K.'s health-cost regulator, won't recommend using Novartis' Afinitor drug to treat breast cancer even though it's approved for the indication in the EU and U.S.

    | Jul. 8, 2013, 7:29 AM
  • Jul. 2, 2013, 2:47 AM
    Having turned down Amgen (AMGN), Onyx Pharmaceuticals (ONXX) is reportedly attracting acquisition interest from a number of other large drug companies, including Pfizer (PFE), which has licensed the palbociclib breast-cancer drug from Onyx and is due to pay royalties of 8% on it, and Novartis (NVS), which has a strong lineup of cancer treatments. It's also worth noting that Onyx has a partnership with Bayer (BAYZF.PK) to sell two drugs for liver, kidney and colon cancer.
    | Jul. 2, 2013, 2:47 AM
  • Jul. 1, 2013, 11:38 AM

    Mid-sized cancer drug companies are enjoying a boost from Onyx's (ONXX +51%) big run today after the company rebuffed a low-ball offer from Amgen (AMGN). Ariad Pharmaceutical (ARIA +13%), like ONXX, has a recently approved blood-cancer drug, while Pharmacyclics (PCYC +8%) is considered a leader in developing a treatment for chronic lymphocytic leukemia. With ONXX now on the block, M&A fever is beginning to spread to other firms with takeover potential.

    | Jul. 1, 2013, 11:38 AM | 2 Comments
  • Jul. 1, 2013, 8:16 AM

    Onyx (ONXX) shares rocket 51% to $130.98 after the company says that it's rejected a $120/share offer from Amgen (AMGN +0.6%) and that it's seeking buyers after receiving inquiries. There's no shortage of speculation about who could acquire Onyx, with Bayer (BAYZF.PK), Celgene (CELG), Novartis (NVS), Bristol-Myers (BMY), AstraZeneca (AZN), Eli Lilly (LLY), Gilead (GILD) and Pfizer (PFE) all mentioned. However, Forbes' Matthew Herper notes that potential blockbuster blood-cancer drug Kyprolis has only received accelerated FDA approval, which can be revoked. Big Pharma may have wanted to await further trial results later this year amid concerns about Kyprolis' safety.

    | Jul. 1, 2013, 8:16 AM | 2 Comments
  • Jul. 1, 2013, 1:46 AM

    Onyx Pharmaceuticals (ONXX) has rejected Amgen's (AMGN) acquisition offer of about $10B, or $120 a share, saying that it "significantly undervalued Onyx and its prospects." However, because of Amgen's proposal and because Onyx has received other enquiries, the company is seeking potential buyers. One of its key attractions is its blood-cancer treatment Kyprolis, whose peak annual sales are forecast to reach $3B and could therefore help Amgen offset patent expirations. (PR)

    | Jul. 1, 2013, 1:46 AM
Company Description
Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics. It operates in one business segment being human therapeutics.
Sector: Healthcare
Industry: Biotechnology
Country: United States