Amgen Inc. left itself open to the shot fired
by activist investor Third Point LLC by failing to
apply the ruthless discipline to pipeline pruning that other large companies
have undertaken under new management regimes.
In an Oct. 21
letter to the hedge fund's investors, Third Point assailed Amgen's R&D
output and proposed splitting the big biotech into two companies. The investor
said new product launches haven't kept pace with Amgen's R&D spending, and
the few drugs that have been launched have been unable to match sales of the
legacy drugs that continue to account for the lion's share of Amgen's top line.
Third Point says splitting Amgen will unleash value, but the portfolio shows the biotech is hard pressed to advance value-driving assets.
Amidst the rancorous debate over healthcare, Peter Reikes' experience reminds us what really happens to patients, and how much they depend on medical innovation.
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The frontier for combating antibiotic resistance is now in developing fast, sensitive and versatile diagnostics that can improve treatment and optimize clinical trials.
Changes in circulating levels of branched-chain amino acids detectable 2-5 years before the onset of pancreatic cancer could lead to diagnostic markers for the indication.
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An anthrax component-based system for intracellular delivery of small molecule antibody mimics; a dual-modality immuno-SPECT/NIRF probe to guide surgical resection of prostate tumors; single-cell immune signatures to predict clinical recovery from surgery; and more...