Defending Your Life: Sharer and Perlmutter On Amgen’s R&D Strategy
Executive Summary
Since joining Amgen in 2000 and 2001, respectively, CEO Kevin Sharer and Exec VP-R&D Roger Perlmutter, have been the frontmen for the firm's aggressive approach to drug research and development - which has had some spectacular results. During the Aug. 15 call detailing the restructuring plan to analysts, the duo was asked about Amgen's ramp-up of R&D in 2006 and generally about R&D productivity. Their answers provide perspective on the feeling surrounding the need to cut back on the area where Amgen has taken such a lead in the industry, on the unique difficulties of being a biotech giant, and on Amgen's performance compared to its closest competitor - Genentech.
You may also be interested in...
Aranesp Bad Luck Catches Up To Amgen, Forces Pharma-Style Reorganization
As Amgen enters into a major restructuring effort that will include extensive cost-cutting and significant headcount reductions, it will also make serious adjustments to its R&D program - including scaling back from its industry-leading approach of investing a high percentage of sales on R&D
Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011