Amgen Inc. discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives.
Industry:MED-BIOMED/GENE Sector: Medical Fiscal Year End:December Last Reported Quarter:06/30/10 Next EPS Date:10/20/10
Capital Structure Solvency and Cash Flow
During 4Q09, Amgen repurchased approximately 22 million shares of common stock at a total cost of $1.2 billion. During FY09, Amgen repurchased approximately 59 million shares of common stock at a total cost of $3.2 billion. The Company currently has $6 billion remaining under its authorized stock repurchase program.
Amgen ended 4Q09 with $13.4 billion in cash and cash equivalents and $11.2 billion in debt, compared to $14.0 billion cash and cash equivalents and $11.2 billion in debt at the end of 3Q09.
AMGN recorded capital expenditures of $144 million in 4Q09 versus $178 million in 4Q08. The company expects FY10 capital expenditures to be approximately $600 million.
Last edited Mon Feb 08, 2010 05:01 AM by SudiptaMukherjee (Zacks Investment Research)
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Governance Social Responsibility and Employee Relations
On November 19, 2009, ImmunoGen Inc. licensed rights to a second potential cancer-treatment from the company for $1 million upfront. Immunogen develops cancer treatments using its Tumor-Activated Prodrug, or TAP, technology. Apart from the upfront payment, the current deal entitles ImmunoGen to receive milestone payments potentially totaling $34 million plus royalties on the sales of any resulting products. In September 2009, Amgen licensed rights to the same technology for a different target. Both the prior and current licensing deals are for undisclosed cancer targets.
Last edited Mon Feb 08, 2010 05:01 AM by SudiptaMukherjee (Zacks Investment Research)
Amgen's future sales and earnings growth depends largely on Epogen and Aranesp sales, and its anemia franchise faces continued risks from regulators, clinicians, payers and competitors, which could result in stock volatility.
Enbrel faces stiff competition from a combination of new and existing products for the treatment of rheumatoid arthritis and psoriasis.
Last edited Mon Feb 08, 2010 05:02 AM by SudiptaMukherjee (Zacks Investment Research)
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