Amgen (NYSE:AMGN) made its reputation as one of the premier firms in the biotechnology industry with its blockbuster anemia drugs, Aranesp and Epogen. Worldwide sales of anemia drugs made up around half of Amgen’s $14.8B revenue in 2007 and an even larger percentage of its profit - Epogen, its original bestselling medicine, brought in revenues of $2.5B, while Aranesp sales hit $3.6B. But these impressive totals obscure falling demand for the drugs - in the the second quarter of 2008, for example, sales in the United States plunged 26 percent.
(more…)
More on this topic
(What's this?)
Adding Amgen to Secular Trends Portfolio
(Epiphany Investing, 9/16/08)
FDA Strikes Another Blow to Amgen’s Anemic Drug Sales
(The Wikinvest Daily Angle, 8/1/08)
Amgen Answering the $30 Billion Riddle…Lean Towards Biotech (AMGN)
(Epiphany Investing, 10/23/08)
