Company Overview
Highlights
Amgen is the largest biotech company in the world.
Ranked number 40 on Fortune’s list of the “100 Best Companies to Work For,” and named as one of its “100 Top MBA Employers” in 2007.
According to insiders, the culture is collegial and the benefits excellent.
Amgen develops drugs based on recombinant DNA and molecular biology to help patients dealing with cancer, rheumatoid arthritis, kidney disease, and other serious illnesses. Its leading product is Aranesp, a drug for anemia. Aranesp is considered an improvement on its earlier anemia drug, Epogen, though both drugs are used frequently in treatment of AIDS and chemotherapy patients, and they account for nearly half the company’s sales. The company has made significant advances in cancer research as well. In 2006, the FDA approved Vectibix™ (panitumumab), a drug designed for treating patients who have colorectal cancer. But Amgen’s best-selling drug is Neupogen, an immune system stimulator that in 2005 generated $3.5 billion in sales. The company’s other blockbuster drug is Enbrel ($2.5 billion), which is used to treat rheumatoid arthritis. Amgen acquired Enbrel through its purchase of Immunex.
The company has remained focused on R&D in recent years. In 2005, it spent $2.3 billion on research and development, and it has a promising pipeline of products. In 2006, Amgen made public its plans to invest more than $1 billion in new process development, manufacturing and finish and fill facility in Ireland. The 2006 acquisition of Abgenix allowed Amgen to bolster its presence in the field of therapeutic antibodies. Abgenix produced the drugs Panitumumab and Denosumab, which are used in the treatment of cancer, and it wasn’t the only business Amgen snagged that year. The company acquired Avidia, Alantos Pharmaceuticals, and Ilypsa, Inc., in 2006 and 2007, for a total of more than $1 billion. Purchasing Alantos provided Amgen with an inhibitor for the treatment of type II diabetes as well as its matrix metalloproteinases platform for osteoarthritis. Ilypsa brought with its lead drug candidate, a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients.
Amgen employees can feel confident knowing they are working every day to instill positive changes, but the social responsibility initiatives exist beyond the labs. Amgen was awarded the 2006 EPA WasteWise Award for best overall waste reduction efforts. The company’s commercial recycling program was so effective that the model was borrowed by Rhode Island officials seeking to make their state a little “greener” by getting other companies to implement Amgen’s strategies. In 2007, the company recycled 1.9 million pounds of material from 50 different waste streams (only 17 are mandated by the state).