RIFs May-2014

Precisely- I hear Bangladesh has a stellar talent pool for discovery research.

Durrr....

 

I would argue the stock price is as strong as it has ever been.
Pay no heed to these trolls, there will be no lay-offs.

 

Wow, you're an idiot. They lay off even when the stock is strong. Plus, it's been down lately.

 

Eat Me Schmuck

 

Wow. You really do exist! And state your message so Eloquently !! And I thought all along that someone like you was just an imaginary FOOL who was made up to be used in bedtime stories told to ignorant sales rep's who think the world only revolves round themselves.

Yet, once again it is I who is the ignorant one. I stand down to your superior intelligence...... and sit on the edge of my seat in wait for the next pearls of wisdom to be discharged from the bowls of your brains.

 

I was laid off recently when the stock was at 125! So that means nothing.. And it's down to 114 now.. Good luck with your theory

 

KS is a baby compared to BB. Have you seen all the disasters BB has done in just one year? ...and more to come! KS lead the company for 20 years, we had bad moments ok, but great too! Amgen was a great place to work for. Since BB joined Amgen I haven't seen one good accomplishment, have you?

 

KS: Chairman of Amgen Inc. from January 2001 to December 31, 2012 and also served as its Chief Executive Officer from May 2000 to May 23, 2012

Greatest achievement? Leaving; stock rose ~40%

So if BB leaves......

 

Vance Coffman, chairman of the board's governance and nominating committee, credited Sharer, who is retiring, for the firm's success over the last decade. "During that time, Amgen grew significantly in every dimension and is well positioned for the future," Coffman said.


http://articles.latimes.com/2011/dec/16/business/la-fi-amgen-ceo-20111216

 

http://www.businessweek.com/news/2011-12-28/retiring-amgen-ceo-kevin-sharer-to-hand-role-to-bradway.html

Amgen grew under Sharer, 63, to an estimated $16 billion in annual sales from $3.6 billion in 2000.

 

And Amgen was fined 760 million dollars for the Aranesp sales practices that fueled a lot of the increase in revenue. For most of the rest of the increase in sales (Enbrel), Amgen way overpaid for Immunex and half of the new revenue was given away to Wyeth/Pfizer.

 

still $16 billion from $3.6 billion....huge margin!

 

So.. in 12 years the compound rate of growth is 13.2%.. Not bad... but it is easier to grow at, say, 20%, when you are small than it is to do so when you are big.

Amgen Sales
2003 8.4 billions (bln), 2004 10.5 bln, 2005 12.4 bln 2006 14.3 bln 2007 14.7 bln, 2008 15 bln, 2009 14.6 bln, 2010 15 bln, 2011 15.5 bln, 2012 17.3 bln

So, even K. Sharer was only good for 3.2%-per-year compounded rate of growth during the period 2006-2012... The problem was never that he did not do any good but that, after doing the good, it just stuck around to milk the company without creating much value for shareholders. Probably 6 years too many because the salaries and the perks were to good to let go of them.

Look at Yahoo Finance: predicted sales for Amgen in 2015 20.2 bln which from 2012 would be, as a matter of fact about 3.5%-per-year annualized.

Unfortunately, I am not a close member of Mr. Bradway's entourage, but it does not to seem to do worse than K.Sharer from 2006-2012 and it is harder to grow by 3.5% starting from 17 billion sales than it is starting from 14 billion and, perhaps, (I am not invited into his office at all and thus I must go by impressions and from what I hear) he is less inclined to abuse the perks?

Still, sales is only part of the story... at the end of the day, sales without profits are not much good, are they? So you should compare them also in that important aspect.

 

He also boasted that Immunex deal was for show and might not work out so well, but the real key to the future was maximizing Aranesp indications.

Lucky yes, visionary .... not quite.

 

Would you expect someone whom he installed on the BOD to say anything less glowing than this?

 

He said that internally but he never expressed those sentiments to shareholders. And I'm still not sure that Enbrel income has yet paid for the $17 billion Immunex acquisition.

 

Enbrel will pay for the 17 billions + interest in 17 billion years

 

Was that before or after the AutoZone merger?

 

All the other sites know it as Thousand Jokes, CA. At least we don't need to worry about any serious management coming down from on high while the current clowns are in charge.

woot!

 

Enough already, RIP today