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.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze