BRIEF: Amgen is expecting growth over 5 years
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[November 08, 2008]

BRIEF: Amgen is expecting growth over 5 years

(Ventura County Star (CA) Via Acquire Media NewsEdge) Nov. 8--NEW YORK -- Amgen Inc. is expecting strong growth in the coming years, saying it could see two of its drugs reach blockbuster status in the next five years.

The Thousand Oaks-based company held a business review meeting with about 200 analysts and investors on Friday in New York. Chief Executive Kevin Sharer said Amgen now has five blockbuster drugs on the market, drugs that exceed $1 billion in annual sales. In the coming years, he said the company's drug Sensipar could pass that milestone.



Also, a yet-to-be-approved drug that keeps the body from breaking down bone, denosumab, could also reach blockbuster sales in treating osteoporosis and cancer- related treatment, he said.

The company's top selling drug, Aranesp, has been hard-hit by concerns about anemia drug safety. Amgen expects another 10 to 20 percent decline in Aranesp sales before it stabilizes.



The company's stock rose $2.31 to $58.87 Friday.

To see more of the Ventura County Star, or to subscribe to the newspaper, go to http://www.venturacountystar.com.

Copyright (c) 2008, Ventura County Star, Calif.
Distributed by McClatchy-Tribune Information Services.
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