Amgen's chief financial officer has handed in his resignation at a time the biotech giant finds itself faced by a series of stiff challenges [1], not the least of which include a sharp drop in profits. In Amgen's release, Richard Nanula was leaving to pursue "other opportunities" and would be replaced by the company's VP for operations, Robert Bradway. Meanwhile, Amgen is dealing with an informal SEC inquiry into a trial failure of Aranesp [2] back in December that wasn't publicly revealed until February as well as intense political pressure to cut the price of its anemia drugs. The FDA is also investigating the company's marketing claims regarding the anemia drugs.
- here's the AP report [3] on Amgen
Related Articles:
Amgen stock slips as anemia drug concerns rise. Report [4]
Amgen shutters Vectibix trial on safety questions. Report [5]
New study points to danger of anemia drug. Report [6]
Major challenges loom for Amgen. Report [1]
Links:
[1] http://www.fiercebiotech.com/story/major-challenges-loom-for-amgen/2006-10-26
[2] http://www.fiercebiotech.com/story/clinical-trial-data-disappoint-amgen-investors/2007-01-26
[3] http://www.forbes.com/feeds/ap/2007/04/10/ap3600212.html
[4] http://www.fiercebiotech.com/story/amgen-stock-slips-as-anemia-drug-concerns-rise/2007-03-02
[5] http://www.fiercebiotech.com/story/amgen-shutters-vectibix-trial-on-safety-questions/2007-03-23
[6] http://www.fiercebiotech.com/story/new-study-points-to-danger-of-anemia-drug/2006-11-16