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 June 1, 1999

Amgen tops public company list of profit per employee

BOULDER — Thousand Oaks, Calif.-based Amgen Inc. (Nasdaq:AMGN) — the world’s largest biotechnology company — ranked No. 1 on The Business Report’s Top 10 list of public companies in the category of profit per employee.

Amgen came out with $156,945.45 per employee, heading the rankings that included McData parent EMC Corp., Xilinx Inc., Adaptec Inc., U.S. Bancorp, AT&T Corp. and others.

“It’s hard to compare across industries,” Amgen spokesman David Kaye said of the top ranking in profit per employee. “We’ve got the two most successful biotechnology drugs ever, and they’re continuing to grow, while at the same time we’re being successful in managing expenses.”

Amgen, founded in 1981, posted revenues of more than $2.7 billion last year — up from $2.4 billion the previous year, when it also topped the ranking. To arrive at profit per employee, Nordby International, which supplied the data, divided 1998 net income by the company’s total number of employees.

Amgen employs about 5,500 employees worldwide — about 250 work in Boulder County. About 200 work in Boulder, and about 50 are on the premises at Longmont facilities that are not officially open yet. Eventually the Food and Drug Administration (FDA) will have to approve the facility, which will be manufacturing drugs.

Amgen has three drugs on the market and about 10 in clinical trials. The three on the market are: Epogen, which is used to treat anemia; Neupogen, which stimulates white cells and is used primarily in treating cancer; and Infergen, which is used to treat Hepatitis C.

Epogen currently is manufactured in Thousand Oaks but eventually will be manufactured in Longmont, where it has the first phase of what will be a 1.2-million-square-foot campus. The second generation of Epogen also will be manufactured in Longmont, assuming ultimate FDA approval. The Longmont plant also is designed to manufacture other products down the road. Amgen’s facility in Boulder also is being renovated for manufacturing.

In Boulder, Amgen’s major expansion of manufacturing operations at 550 Airport Blvd. is estimated to cost $75 million to $150 million.

Kaye said it is “hard to know” how many people Amgen eventually will employ in Boulder County “given Amgen’s shift in Boulder County from research and development to manufacturing.”

BOULDER — Thousand Oaks, Calif.-based Amgen Inc. (Nasdaq:AMGN) — the world’s largest biotechnology company — ranked No. 1 on The Business Report’s Top 10 list of public companies in the category of profit per employee.

Amgen came out with $156,945.45 per employee, heading the rankings that included McData parent EMC Corp., Xilinx Inc., Adaptec Inc., U.S. Bancorp, AT&T Corp. and others.

“It’s hard to compare across industries,” Amgen spokesman David Kaye said of the top ranking in profit per employee. “We’ve got the two most successful biotechnology drugs ever, and they’re continuing…

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