Amgen cutting costs as key anemia drug sales fall
Amgen is now cutting jobs too and there have been several articles regarding this.
Amgen cutting costs as key anemia drug sales fall: Financial News - Yahoo!
Finance
Hometown feeling Amgen’s pain - Los Angeles Times
Amgen to Cut Up to 2,600 Jobs - washingtonpost.com
Amgen slows its Bay Area expansion - San Francisco Business Times
I’ve seen numbers up to $1 billion savings total. I’ve said it before and I’ll say it again, I think a lot of this is due to the blockbuster mentality which, while it may be changing slightly in big pharma, hasn’t changed at all for the big biotechs.
I think both big pharma and emerging biotech need to look at multiple products in the hundreds of million rather than swinging for the fences with every single drug.
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