Amgen has inked another marketing settlement with the U.S. government. The biotech giant agreed to pay $24.9 million to wrap up allegations that it used kickbacks to induce long-term care pharmacies to use more of its Aranesp anemia drug--and not only for patients with anemia caused by chronic kidney failure, the drug's officially approved use.
Amgen was accused last month of getting special favors from lawmakers. Today the U.S. Supreme Court ruled against it in a securities case that sets precedent for the industry and beyond.
Just two months after Merck dropped out of a snake-bit biosimilar development program for Enbrel, the pharma giant--which has experienced a number of setbacks in the field--has stepped back up with a new, high-profile partnership, teaming up with a new venture formed by the South Korean conglomerate Samsung and Biogen Idec.
Amgen's earnings last week were not half bad. But they were not good enough to save the jobs of 160 employees whom the company says it will let go.
Congress didn't just head off the fiscal cliff with its compromise bill. It rescued Amgen ($AMGN) from Medicare price restraints on Sensipar, an oral treatment for kidney patients, at least temporarily.
Is Aranesp becoming an Amgen ($AMGN) jinx? Less than a month after the company made headlines with a $762 million marketing settlement with the U.S. government, focused largely on Aranesp, Amgen says the anemia drug fell short in a trial in heart failure patients.
Takeda Pharmaceuticals and Affymax ($AFFY) have sewn up another supply deal for their anemia drug Omontys. DSI Renal, one of the largest dialysis providers in the U.S., agreed to adopt Omontys to treat their patients with chronic kidney disease.
One Amgen whistleblower is balking at the government's off-label marketing settlement--but the federal court is having none of it. Dr. Joseph Piacentile, who worked undercover to gather evidence for the prosecutors' case, claims he and other whistleblowers have had no say-so in the settlement, Bloomberg reports. And he wants his day in court.
In Hollywood, when undercover agents are planning to secretly record a meeting, there's often a scene meant to engage the audience's fear and sympathy: "Are you wearing a wire?" someone accuses, usually someone armed with a gun or enormous fists.
Amgen's long-brewing settlement with the U.S. Justice Department is close at hand. The drugmaker pleaded guilty today to a misdemeanor misbranding charge for mismarketing its anemia drug Aranesp.