Amgen (Applied Molecular Genetics) is a biotechnology company that develops and manufactures drugs to treat serious illnesses. It is one of the world's largest independent biotechnology companies and the largest biotechnological employer. Founded in California in 1980, Amgen operates in over 75 countries today.
Amgen specializes in developing therapeutics based on advances in molecular biology, specifically monoclonal antibodies, which are proteins meant to replicate how human antibodies work. Additionally, Amgen has dramatically expanded its pipeline by focusing on developing cancer therapies and partner companies.
Amgen has been ranked in Fortune's World Most Admired Companies list for 13 years and was listed as the 22nd most profitable company for 2017. It also has two biosimilar drugs in the final stages of development and has the highest market share of any biosimilar drug globally.
Amgen offers many products and services related to biosimilars, including drug discovery, process development, and manufacturing services. It plans to expand its geographic presence in Europe, Japan, South Korea, and China and is building a state-of-the-art manufacturing facility in Singapore.
Amgen also invests heavily in research and development and spends around 18-20% of its annual sales on R&D. Most of its R&D efforts are focused on oncology, cardiovascular and kidney diseases, neuroscience, and inflammatory disorders.
Amgen has formed many alliances with industry players in recent years, including Novartis, UCB, and Johnson & Johnson, to enable faster clinical trials and regulatory approval. It has also acquired several companies, such as Kyprolis, Dezima Pharma, and CoherusBioSciences, for their innovative treatments.
Amgen has 12 drugs on the market, and its key products include Enbrel, Neulasta, Epogen, and Procrit, which are used to treat cancer, inflammation, and anemia. Additionally, its Subcutaneous Enbrel product treats psoriasis, psoriatic arthritis, and rheumatoid arthritis.
Amgen's 2018 second quarter saw revenue increase by 8% due to higher net prices, greater demand, and royalty income from biosimilars. Additionally, its net income and cash flow increased by 65% and 40%, respectively.
Amgen has launched several initiatives to increase its presence in emerging markets and make its drugs more accessible. This includes a low-cost solution in India, the launch of an affordability program in the U.S., and an accelerator program for biotechnology companies in India.
In 2017, Amgen collaborated with the American Kidney Fund to grant kidney patients $5,000 in financial assistance. Over the last three years, it invested over $30 million in charitable programs, including education, healthcare and research, and community development initiatives.
Amgen has received numerous awards and recognitions, including the MIT Technological Review's Innovator of the Year award and the World Economic Forum's 2018 Healthcare Innovation. It also ranked 12th in the Fortune 500 and was named among the world's most ethical companies in 2018.
