THOUSAND OAKS, Calif.--(BUSINESS WIRE)--March 2, 2005--Amgen Inc.
(Nasdaq:AMGN), the world´s largest biotechnology company, today
announced the results of its offer to purchase its Liquid Yield Option
Notes (Zero Coupon--Senior) due 2032 (the "LYONs") pursuant to the
terms thereof. The holders´ option to surrender their LYONs for
repurchase expired at 5:00 pm EST on March 1, 2005.
Amgen has been advised by the paying agent, LaSalle Bank National
Association, that approximately $1.59 billion in aggregate principal
amount at maturity of LYONs were validly surrendered for purchase and
not withdrawn and Amgen has purchased all such LYONs. This leaves
approximately $2.36 billion in aggregate principal amount outstanding.
The purchase price for the LYONs was $738.68 in cash per $1,000 in
principal amount at maturity. The aggregate purchase price for all the
LYONs validly surrendered for purchase and not withdrawn was
approximately $1.17 billion. Amgen has paid the aggregate purchase
price in cash from existing cash balances.
This news release contains forward-looking statements that involve
significant risks and uncertainties, including those discussed below
and others that can be found in our Form 10-K for the year ended
December 31, 2003, and in our periodic reports on Form 10-Q and Form
8-K. Amgen is providing this information as of the date of this news
release and does not undertake any obligation to update any
forward-looking statements contained in this document as a result of
new information, future events or otherwise.
No forward-looking statement can be guaranteed and actual results
may differ materially from those we project. Amgen´s results may be
affected by our ability to successfully market both new and existing
products domestically and internationally, sales growth of recently
launched products, difficulties or delays in manufacturing our
products, and regulatory developments (domestic or foreign) involving
current and future products and manufacturing facilities. In addition,
sales of our products are affected by reimbursement policies imposed
by first party payors, including governments, private insurance plans
and managed care providers, and may be affected by domestic and
international trends toward managed care and healthcare cost
containment, as well as possible US legislation affecting
pharmaceutical pricing and reimbursement. Government regulations and
reimbursement policies may affect the development, usage and pricing
of our products. Furthermore, our research, testing, pricing,
marketing and other operations are subject to extensive regulation by
domestic and foreign government regulatory authorities. We, or others
could identify side effects or manufacturing problems with our
products after they are on the market. In addition, we compete with
other companies with respect to some of our marketed products as well
as for the discovery and development of new products. Discovery or
identification of new product candidates cannot be guaranteed and
movement from concept to product is uncertain; consequently, there can
be no guarantee that any particular product candidate will be
successful and become a commercial product. In addition, while we
routinely obtain patents for our products and technology, the
protection offered by our patents and patent applications may be
challenged, invalidated or circumvented by our competitors. Further,
some raw materials, medical devices, and component parts for our
products are supplied by sole first party suppliers.
Amgen is a global biotechnology company that discovers, develops,
manufactures and markets important human therapeutics based on
advances in cellular and molecular biology.
CONTACT: Amgen, Thousand Oaks
Christine Cassiano, 805-447-4587 (media)
Arvind Sood, 805-447-1060 (investors)
SOURCE: Amgen Inc.