Biotechnology company Amgen was originally founded as AMGen in 1980, standing for Applied Molecular Genetics. The company is headquartered in Thousand Oaks, California, but has establishments in many other countries around the world. Today, Amgen is the world’s largest pure play biotechnology company, generating nearly 23 billion U.S. dollars of revenue and employing around 18 thousand people worldwide.
Amgen is among the global top 10 pharmaceutical companies based on market value. As of November 2016, the company was worth some 87 billion U.S. dollars. Biopharmaceuticals manufactured by Amgen are also among the leading biotech drugs worldwide. Enbrel and Neulasta are the company’s flagship products, responsible for half of Amgen’s total revenue. Interestingly, Amgen generates almost 80 percent of its revenues on the domestic U.S. market.
As is common in the biopharmaceutical industry, Amgen spends a significant proportion of its income on research and development. In 2016, Amgen spent some 17 percent of its revenue on R&D purposes. Almost 60 percent of 3.8 billion dollars of R&D spending was for later stage clinical programs, while the rest was for discovery research and translational sciences, and for marketed products.
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