Amgen is one of the world’s leading biotechnology companies.
Amgen Inc. (formerly Applied Molecular Genetics Inc.) is an American multinational biopharmaceutical company headquartered in Thousand Oaks, California. One of the world’s largest independent biotechnology companies, Amgen was established in Thousand Oaks, California in 1980. Amgen’s Thousand Oaks staff in 2017 numbered 5,125 (7.5% of total city employment) and included hundreds of scientists, making Amgen the largest employer in Ventura County. Focused on molecular biology and biochemistry, its goal is to provide a healthcare business based on recombinant DNA technology.
In 2018, the company’s largest selling product lines were Neulasta, an immunostimulator used to prevent infections in patients undergoing cancer chemotherapy and Enbrel, a tumor necrosis factor blocker used in the treatment of rheumatoid arthritis and other autoimmune diseases. Other products include Epogen, Aranesp, Sensipar/Mimpara, Nplate, Vectibix, Prolia and XGEVA. Amgen sponsors the Tour of California.
Positive economic indicators, such as an 18% surge in groundbreaking new single-family homes in November, contributed to the optimistic outlook.
The S&P and Nasdaq Composite reversed earlier gains to end Tuesday’s session in a loss, as the Fed readies key inflation report.
Although the Federal Reserve earlier mentioned continued inflation coupled with a recovering economy, the bank had decided to keep interest rates unchanged.