Amgen Inc. of Thousand Oaks, Calif., announced that it expectsto receive final Food and Drug Administration approval forNeupogen, its granulocyte-colony stimulating factor. G-CSFstimulates the production of white blood cells suppressed bychemotherapy. FDA approval would make Neupogen the firstCSF on the market. The company (NASDAQ:AMGN) expects salesof its other product, Epogen (erythropoietin), to reach $280million for fiscal 1991 ending March 31, compared with sales of$150 million in 1990. Nevertheless, Amgen projects 1991 netincome of only $4.4 million, compared with net income of $19.1million in 1990. The decrease is due to a one-time, $46 millioncharge when Amgen modified its royalty agreement forNeupogen with Memorial Sloan Kettering Cancer Center of NewYork.

(c) 1997 American Health Consultants. All rights reserved.

No Comments