Chief Financial Officer Jonathan M. Peacock to Leave Amgen; Company Appoints Michael A. Kelly Acting Chief Financial Officer
THOUSAND OAKS, Calif., Jan. 9, 2014 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that Jonathan M. Peacock, executive vice president and chief financial officer, is leaving Amgen to pursue broader career opportunities. Peacock will be stepping down from his role as CFO effective Friday, Jan. 10, 2014, and is expected to remain employed with the company until May to assist with the transition.
Michael A. Kelly, an 11-year Amgen veteran, has been named acting CFO, reporting to Robert A. Bradway, chairman and chief executive officer.
"Since joining Amgen over three years ago, Jon has played an important role in developing and implementing the company's strategy for growth and in delivering value for shareholders," said Bradway. "We thank Jon for his many contributions and fully support his desire to pursue broader opportunities."
Since 2010, Amgen has expanded globally, strengthened its pipeline and returned substantial capital to shareholders through buy-backs and dividends. Amgen's near and long-term outlook is strong with multiple levers for future growth including a robust pipeline, entry into biosimilars and international expansion.
In his role as acting CFO, Kelly will be responsible for the company's finance and investor relations operations. Since joining Amgen in 2003, he has served in a number of executive finance assignments, including five years as chief accounting officer and more recently as CFO for international commercial operations. Prior to joining Amgen, Kelly had finance roles at Tanox, Biogen and Monsanto Life Sciences.
"Michael Kelly is an experienced financial executive," said Bradway. "I am delighted to have him reporting to me as acting CFO while we search for Jon's successor."
About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its biologics manufacturing expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be the world's largest independent biotechnology company, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
For more information, visit www.amgen.com and follow us on www.twitter.com/amgen.
Forward-Looking Statements
This news release contains forward-looking statements that are based on Amgen's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission (SEC) reports filed by Amgen, including Amgen's most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and Form 8-K. Please refer to Amgen's most recent Forms 10-K, 10-Q and 8-K for additional information on the uncertainties and risk factors related to Amgen's business. Unless otherwise noted, Amgen is providing this information as of Jan. 9, 2014, and expressly disclaims any duty to update information contained in this news release.
No forward-looking statement can be guaranteed and actual results may differ materially from those Amgen projects. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for Amgen to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and Amgen expects similar variability in the future. Amgen develops product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as Amgen may have believed at the time of entering into such relationship. Also, Amgen or others could identify safety, side effects or manufacturing problems with Amgen's products after they are on the market. Amgen's business may be impacted by government investigations, litigation and product liability claims. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Amgen depends on third parties for a significant portion of its manufacturing capacity for the supply of certain of its current and future products and limits on supply may constrain sales of certain of its current products and product candidate development.
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The scientific information discussed in this news release related to Amgen's product candidates is preliminary and investigative. Such product candidates are not approved by the U.S. Food and Drug Administration (FDA), and no conclusions can or should be drawn regarding the safety or effectiveness of the product candidates.
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SOURCE Amgen