Amgen And Me: We're Still On The "Wrong" Foot
So, imagine my surprise when Amgen put out a press release this morning with new financial guidance. You can read it for yourself here.
The release was issued in conjunction with the company's presentation at the JPMorgan Healthcare Conference. That's the same conference where a top Amgen spokesman told me Chairman and CEO Kevin Sharer would not be available for a CNBC interview because the company would be in a regulatory "quiet period" ahead of its earnings later this month.
If an executive doesn't want to talk to or be interviewed by me just say so. But please don't say there's a quiet period and then essentially pre-announce your earnings.
In a research note to clients FBR biotech analyst Jim Reddoch says, "4Q EPS to be a few pennies ahead of guidance, but AMGN not out of woods yet." He's referring to the persistent pressure on Amgen's core anemia drug franchise.
The FDA last week said it may take more action on the drugs after it reviews new data from two studies showing they may increase tumor growth and the risk of death in certain cancer patients. Amgen's spokesman says he wants to build a better working relationship with me. With today's release, we're not starting off on the right foot.
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