What is Amgen?
Amgen is an American biotech company, with its head office based in Thousand Oaks, California. The company works internationally, focusing on biopharmaceuticals. It discovers, manufactures, and distributes cutting-edge therapeutics to treat serious human diseases.
The company focuses on three key areas:
- Innovative Medicines. With a presence in over 100 countries and regions worldwide, the company focuses on cardiovascular disease, oncology, bone health, neuroscience, nephrology and inflammation.
- Transformative Research. This section looks at the fundamental biological mechanisms of disease and establishing new potential treatments.
- World-Class Bio-manufacturing. Seeking to focus on the safe and reliable production of biological medicines worldwide.
What’s the history of the company?
Formerly known as Applied Molecular Genetics, the company’s current name hails from its abbreviation AMG. Amgen was founded in 1980 by William Bowes and Wiston Salser, who created a scientific advisory board that formed the basis of the company.
By 1989, the company received its first approval for the treatment of anaemia in chronic kidney failure – Epogen. Subsequent discoveries followed, including FDA approval for Neupogen a treatment for those with suppressed immune systems (1991), Immunex, an acquisition of Amgen, used for the treatment of rheumatoid arthritis (1998), FDA approval for Prolia for post-menopausal osteoporosis (2010), and FDA approval for Xgeva, a drug designed to prevent complications in bone metastasis (2010).
During its history, the company has also experienced a number of setbacks including allegations of illegal marketing practices in 2012, for which the company paid compensation of $150 million in criminal liability and $612 million for related complaints.
Since 2014 the company has been the recipient of a number of prestigious awards and recognitions, including:
- FORTUNE World’s Most Admired Companies (2014, 2015, 2016)
- Dow Jones Sustainability Index – World Index and North American Index (2014, 2015, 2016, 2017)
- Pharma Industry Company of the Year and Biopharma Company of the Year (2016)
- FORTUNE World's Most Admired Companies in the Pharmaceutical Sector (2017, 2018)
- FTSE4Good Index Series (2017)
- Forbes Magazine’s America’s Best Employers for Diversity (2018)
Finances, acquisitions and mergers
Amgen has made a number of strategic acquisitions during its history, these include Synergen Inc in 1994, the Immunex Corporation in 2002, Avidia Inc. in 2006, Alantos Pharmaceuticals in 2007, the BioVex Group Inc. in 2011, deCode Gentics in 2012, Onyx Pharmaceutical Inc. in 2013, and Dezima Pharma in 2015 in a deal said to be worth more than $1.55 billion.
In 2017, the company return a total of $6.5 million to shareholders through dividends and share repurchases. The 2018 Q1 earnings call promises a successful year for the pharmaceutical giant. At the start of 2018, Non-GAAP EPS was up 10%, free cash flow was $2.6 billion, with revenue listed as $21.9 billion – $22.8 billion.
Where is Amgen traded?
Amgen is traded on the NASDAQ stock exchange under the ticker AMGN. It is a component of the NASDAQ-100, S&P 100, and the S&P 500. Explore the Amgen share price and discover the latest AMGN charts with Capital.com to trade on this biopharmaceutical behemoth.