Amgen, the World's Biggest Biotechnology Group: The Competitive Strategies
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Code : COM0110
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Region : USA
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Introduction:On January 26th 2006, the world's largest biotechnology company, Amgen Incorporated (Amgen), announced its annual results. For 2005, its sales rose by 18% to $12.4 billion (compared to $10.6 billion in 2004) and earnings increased by 55% to $3.7 billion (2.4 billion in 2004). Kevin Sharer (Sharer), the Chief Executive of Amgen talked about the challenges of Amgen due to its increasing size and the necessity for funding its expensive clinical trials. He said that Amgen could grow by being "small and hungry in feel and behaviour" and avoid the stagnancy faced by other pharmaceutical companies. It is observed that although the company has maintained a steady growth rate by developing new products, mergers, acquisitions and tie-ups with other pharmaceutical companies, it faces the challenges of maturing products, competition from biosimilars and execution of clinical trials. However, the 25-year-old company believes that there is still a huge market for growth and there is scope for development of new products and improvement in the existing ones. |
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