Amgen Pharmaceuticals (AMGN)
Amgen
is a biotechnology medicines company. It has acquired a Turkish company Mustafa Nevzat (MN) Pharmaceuticals through a purchase of
95.4% of the stock in the company. MN is
a leading supplier of pharmaceuticals to the hospital sector and a
majorsupplier of injectable medicines in Turkey. MN is a fast growing company
in the double digits in the last 5 years. This will allow Amgen to spread its
influence around the world, but not necessarily add new medicines to the
market. (From http://www.amgen.com/media/media_pr_detail.jsp?releaseID=1686962)
Stock
of Amgen has been slowly climbing, but it bouncing off the Bollinger bands,
which may indicate that Amgen has hit a resistance; only time will tell if it keeps going up or
whether it flat lines.
Based
on what I have read, it seems to be that Amgen is more focused on acquisition for
growth and not developing new medicines and drugs. I hope I am wrong, because I think that a
company that stops producing new medicines will become stagnant. What do you
think?
Other
sources:
From the NY Times website, “
Amgen Inc. (Amgen) is a biotechnology medicines company. The Company discovers,
develops, manufactures and markets medicines for illnesses. It focuses solely
on human therapeutics and concentrates on medicines based on cellular and
molecular biology. Its products are Neulasta (pegfilgrastim), a pegylated
protein, based on the Filgrastim molecule, and NEUPOGEN (Filgrastim), a
recombinant-methionyl human granulocyte colony-stimulating factor (G-CSF), both
of which stimulate the production of neutrophils (a type of white blood cell
that helps the body fight infection); Enbrel (etanercept), an inhibitor of
tumor necrosis factor (TNF), a substance, which plays a role in the body's
response to inflammatory diseases, and Aranesp (darbepoetin alfa) and EPOGEN
(epoetin alfa), erythropoiesis-stimulating agents (ESAs). On April 7, 2011, it
acquired Laboratorio Quimico Farmaceutico Bergamo Ltda (Bergamo). In June 2012,
the Company acquired more than 99% of Mustafa Nevzat Pharmaceuticals.”
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