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Enzon

Executive Summary

PEGnology company says Amgen will not exercise its option for the development of a PEGged version of its G-CSF (granulocyte- colony stimulating factor) Neupogen "under the terms of its earlier agreement." Instead, Enzon President and CEO Abraham Abuchowski told the annual shareholders meeting Jan. 17, Enzon is considering a new Amgen proposal with different terms "for an expanded scope of compounds." He did not elaborate on Amgen's reasons for not going with the PEG-G-CSF contract as written. Neupogen was recommended for approval for chemotherapy-induced febrile neutropenia by an FDA advisory committee on Dec. 14 and Amgen estimates there are 250,000 new chemotherapy patients in the U.S. each year.
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PS018653

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