Why chase innovation, when pure greed is the easier option...

See http://www.bloomberg.com/news/2011-01-21/amgen-increases-prices-to-offset-revenue-slowdown-of-anemia-drug-aranesp.html

Amgen has clearly established itself as the company of gorging price increases.

"Innovation that benefits patients" may once have been a driver, now totally replaced with "financial management that benefits shareholders and screws a healthcare system, impotent to react".

It would be interesting for the powers that be to analyze the prices that Amgen charges in the US market compared to those in other markets around the world - totally immoral and harmful to the US healthcare system.

What a shame that this once great, leading edge company has evolved this way - way to go Kevin, George and Jim....

 

The only problem with this is that Amgen's current financial management does not benefit shareholders (the share price is the same as when Kevin started as CEO), does screw the health care system, and only profits management in the form of big bonuses, paychecks, and free jets.

 

obviously you know nothing about how to run company

 

And Kevin does?

 

Totally agree!

Revenue growth driven by price increases, oh and of course pissy Dmab sales (what blockbuster?).

As long as the healthcare system will allow us - lets take it for all it's worth. Easy money if you can get it!

 

Amgen tries to benefit the shareholder???? What are you people smoking, drinking shooting up, sniffing or snorting???

We have been asking for a dividend for years and all we get is, not today, we need the dough to make loser purchases.

 

Puff, puff, give! Puff, puff, give!!!
You fuckin' up the rotation.

 

The government has imposed limitations on Pharma companies ability to take price increases at least as it pertains to physician administered medications gratis calculation and publication of "Average Selling Price". The time lag for Governments updating of drug reimbursement figures of 2 quarters coupled with the ASP lowering discounts given to the channel (wholesaler and 3rd Party Payers) creates a pretty daunting price ceiling whereby increasing price too quickly will cause physicians reimbursement to go negative. It is typical to see 2 to 2 1/2% price increases every other quarter for properly managed biotech drugs. Is it greed? Yes, but the high stakes game of getting a drug to market draws investors who are themselves gamblers.

Price increases themselves do little if the company does not properly manage their bottom line costs. Under performing assets, wether they be a Jet, a building, a product or an employee needs to be rooted out and it is the job of the management staff to regulate this.

 

But who regulates management when they are part of the problem? There are far to many kingdoms in the land of Amgen. We need Vikings to conquer the status quo and shake things up. Start with easy things, outsource AP, get rid of site supply chain (at least the MRO side), sell the Distribution Warehouse, etc. Oh, but management is afraid everything will be like IBM so better off do nothing. Instead they target Research or Sales because of our "inflated" budgets.

 

Absolutely beautiful quote. Should go down in history with "Ask not what you're country..." Long live Debo.

 

If you keep the PRESENT MANAGEMENT, you won't see much improvement. For years, Amgen has been covering up snail paced earnings with clever accounting and overhead clippings, here and there. Yes, if you review the reports, it's there, just not shouted from the rooftops. They tell the truth but you have to dig.

LETHARGY is their strong suit.