Amgen to save $1B in restructuring after Aranesp sales drop

US biotechnology giant Amgen plans to cut its headcount 12%-14% (2,200-2,600 staff) as a result of lower revenues from its star product, the anemia drug Aranesp (darbepoetin alfa). The firm's restructuring program will also involve plant closures and a reduction in capital spending, aiming to save $1.0 billion. The drop in sales follows the US Food and Drug Administration's recent public health advisory calling for strengthened product labeling for all erythropoeisis-stimulating agents, which are used in the treatment of anemia (Marketletter March 19). Amgen also cut its earnings per share guidance for full-year 2007 to $4.13-$4.23 from $4.28.