2017-02-16 / Business

Amgen assets top $77 billion

Company may add 1,600 jobs
By Becca Whitnall


BOOMING—After another extremely profitable year for his company, Amgen CEO Robert Bradway reportedly told President Trump this month that the biotech giant plans to add jobs in 2017. 
ACORN FILE PHOTO BOOMING—After another extremely profitable year for his company, Amgen CEO Robert Bradway reportedly told President Trump this month that the biotech giant plans to add jobs in 2017. ACORN FILE PHOTO Ventura County’s largest private employer continues to make its shareholders very happy.

According to its year-end report, Amgen Inc. brought in $23 billion in revenue in 2016, a 6 percent increase over 2015.

The Thousand Oaks-based biotech giant ended the year with $77.6 billion in total assets, up more than $6 billion from the previous year, according to the report, which was released Feb. 2.

Amgen, one of the world’s leading drug researchers, employs around 5,000 people at its sprawling Newbury Park campus and 18,000 worldwide.

The report puts Amgen’s earnings per share at $10.24, an increase of 13 percent over 2015.

Potentially more exciting for members of the Ventura County community—which has faced a series of Amgen layoffs over the last few years—were reports from a Feb. 1 meeting between CEO Robert Bradway and President Donald Trump in which Bradway said the company would soon be adding 1,600 jobs.

In a statement provided to the Acorn, Amgen said the jobs figure includes new positions as well as replacements of those who leave the company throughout the year. The positions will be staffed across the country.

It’s unclear how many of those positions, if any, would be in Thousand Oaks.

Another big year

Driving revenue in 2016 were sales of four key products: Enbrel, Prolia, Repatha and Kyprolis, especially in the fourth quarter.

Amgen also has good news for the coming year in terms of pharmaceutical test results, Bradway said in a statement to shareholders.

“We anticipate several new product development opportunities and launches in 2017 and are excited about the Repatha cardiovascular outcomes data we released today,” he said.

On Jan. 2, the company published research results indicating the heart medication Repatha reduces the risk of cardiovascular events in patients with hardening or narrowing of the arteries.

Amgen will present the findings to the American College of Cardiology March 18.

“These . . . results show unequivocally the connection between lowering LDL cholesterol with Repatha and cardiovascular risk reduction,” said Sean Harper, executive vice president of Research and Development at Amgen, in a separate statement issued by the company.

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