Amgen cutting costs as key anemia drug sales fall

Amgen's Epogen and its newer and longer-lasting Aranesp were the top revenue producing biotech drugs in the United States last year, respectively reaping sales of $2.5 billion and $4.1 billion, funded in large part by government health programs in the United States and abroad. This year is a different story. Anemia drug revenue at Amgen has dipped 10 percent in the first half and the company's shares have shed nearly 27 percent of their value as safety and overuse concerns fuel reimbursement cutbacks by the agency that runs government health programs for elderly, disabled and poor Americans.

Amgen cutting costs as key anemia drug sales fall News Market News Reuters

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