Now that the Big Pharma breakup craze has moved down the drugmaker food chain to Baxter International, should Big Biotech jump on the trend? Maybe one of that group, an analyst suggests. As Forbes reports, Bernstein analyst Geoffrey Porges figures Amgen offers a decent opportunity for a breakup.
Amgen is getting aggressive with one of its midstage leukemia drugs. In its earnings call with analysts the big biotech's R&D chief called out blinatumomab, saying that recent Phase II data might warrant an early approval.
Amgen reported a mixed bag of results in the first earnings period following its acquisition of Onyx Pharmaceuticals. First-quarter revenues came in approximately $230 million lower than consensus, a miss that the company attributes primarily to sluggish sales of Enbrel.
Amgen CEO Robert Bradway nabbed Onyx Pharmaceuticals for $10.4 billion last summer, but that wasn't enough to net him the kind of deal-related bonus some of his peers enjoy. But his take-home increased over last year's haul, which was enough to score him 13th place on the list of biopharma's highest-paid chiefs.
Amgen's cancer-fighting viral vaccine has been rolling through Phase III, producing a series of positive results. But after missing a secondary endpoint in overall survival, the California-based biotech's hot prospect now has a big blot on its resume.
GlaxoSmithKline and Amgen are parting ways on Prolia, their comarketed osteoporosis med that's been among the fastest-growing products approved in the last few years. Amgen will take over the task in most areas under their agreement, leaving GSK freer to buckle down on some new launches of its own.
After a string of promising late-stage results, Amgen's cancer-fighting viral vaccine failed to extend patients' lives at a statistically significant rate, missing a secondary endpoint and marking the first blemish on the biotech's top cancer prospect.
Thanks to genomic sequencing, some heart-healthy mutants and billions of dollars spent on R&D, rival drug developers are bearing down on a promising new way of treating the scourge of high cholesterol. And with the first FDA applications likely coming in the next year, the nascent field's trailblazers are vying for the top spot with blockbuster aspirations.
Amgen widened its lead among competing drugmakers in a promising new field of cardio treatments on the strength of late-stage results in which its in-development drug lowered LDL cholesterol by as much as 75%.
Two Amgen executives are heading to devicemaker NeuroSigma to join the finance team there as the company gears up for commercialization of its big product. NeuroSigma, which specializes in devices for neurological and neuropsychiatric disorders, appointed Carl Adams to be its chief financial officer and Craig Rostamian as its vice president of finance, overseeing planning and analysis, according to a company release.