1. In Vivo
  2. >>Business Strategy

What's Driving Amgen?

Despite its CEO's professed distaste for biotech acquisitions, Amgen was willing to pay $16 billion for Immunex, in a bold move that ensures its growth momentum even as its key product, EPO, ages and its newly launched replacement faces uncertain prospects. Immunex makes a blockbuster rheumatoid arthritis drug, Enbrel, which it forecast will have sales of $4 billion by 2005. Amgen thinks it can drive Enbrel sales further, even though it is projecting a smaller market of $3 billion for the drug by 2005.

At the October 2001 annual biotech CEO conference in Laguna Niguel, Amgen Inc. CEO Kevin Sharer told the crowd that biotech acquisitions were, in general, not a particularly good idea. Executives who were there say Sharer argued then that biotechs could fare better by marketing their own products, rather than spending the energy buying and integrating companies.

At the time, Amgen had just received approval for Aranesp, the second-generation version of the red blood-cell stimulating protein erythropoeitin,...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business Strategy

Late-Stage GLP-1 Drug Trials Outside The Cardiometabolic Space

 
• By David Wild

A look at Novo Nordisk, Eli Lilly and other companies' late-stage clinical studies of GLP-1 drugs in indications ranging from neurodegeneration to oncology, and alcoholic liver disease to autoimmune conditions.

Rising Leaders 2025: Metsera’s Whit Bernard’s Musical Path To Biotech Leadership

 
• By David Wild

Metsera CEO Whit Bernard applies an unconventional leadership philosophy to develop next-generation obesity therapeutics, including monthly GLP-1 injections and oral peptides.

AI In Drug Discovery: The Patent Implications

 
• By David Wild

A Q&A with DeAnn Smith, partner and co-chair of the Patent Trial and Appeal Board Proceedings Practice Group at law firm Foley Hoag.

Is Advanced AI Revolutionizing Sales Enablement In Pharma?

 
• By Marina Hickson

Advanced AI is revolutionizing sales enablement by addressing training gaps and performance challenges. Used correctly, it can help to bridge the sales-marketing divide, accelerate ramp-up times and provide managers with data-driven insights.

More from In Vivo

AI In Health Delivery: Patients Most Confident When HCPs Are In Charge

 
• By Ashley Yeo

Annual survey of patients and professionals shows how attitudes to health system transformation are evolving and what stakeholders are demanding as acceptance of AI tools accelerates.

Medtech Innovators Court London-Based Investors At BioWales 2025

 
• By Ashley Yeo

BioWales in London 2025 showcased the efforts healthtech innovators are making to meet investors on their own turf, illustrating changing attitudes and evolving needs.

Rising Leaders 2025: Metsera’s Whit Bernard’s Musical Path To Biotech Leadership

 
• By David Wild

Metsera CEO Whit Bernard applies an unconventional leadership philosophy to develop next-generation obesity therapeutics, including monthly GLP-1 injections and oral peptides.