Amgen's top management touted the company's strategy and pipeline at a meeting of Amgen securities analysts and investors in New York City. "Over the next five years we could have three more drugs achieve blockbuster status: Sensipar, denosumab for osteoporosis and denosumab for cancer-related indications," said Amgen CEO Kevin Sharer (photo). The much-anticipated denosumab for osteoporosis--which could bring in anywhere from $2 billion to $10 billion a year--has been submitted to the FDA. Final approval of that drug is expected late this year or early 2009.
Amgen also said it is anticipating 17 key Phase II and III clinical study results in 2009 and 2010, including for denosumab (oncology), AMG 386 and AMG 655 for various cancer indications, and its Sensipar/Mimpara trial, an outcomes study in dialysis patients. Execs noted the company's pipeline swelled to 50 molecules in 2008 from just 20 in 2001.
It wasn't all good news, however. George Morrow, Amgen's executive vice president for Global Commercial Operations, predicted a further 10 to 20 percent decline in Aranesp sales before they stabilize. Neulasta/Neopogen will also be facing generic competition in Europe.
- see Amgen's release for more
- here's the Seeking Alpha article
ALSO: Amgen is already preparing for the launch of denosumab, even though the med hasn't made its way through the FDA yet. Report