Major challenges loom for Amgen

Amgen may be the largest biotech in the world, but it's looking down the road to some big challenges. In an interview with Forbes, CEO Kevin Sharer highlights new competition from biosimilars in Europe, the expiration of its U.S. patent for Epogen, new competition from Roche's anti-anemia drug CERA and new technology for anti-anemia that is likely to do an end run around the company's patent protections. An oral anti-anemia medication from Fibrogen is drawing a lot of attention, as it's likely to be cheaper and easier to take. Insurers have also decided to either reduce reimbursements for Amgen drugs to match Medicare or are opting for less expensive therapies from competitors.

- read the Forbes report on Amgen