AMGEN SEEKS TO HIKE ENBREL PRODUCTION.Byline: Evan Pondel Staff Writer THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - Amgen Inc. said Friday it applied for regulatory approval of an Enbrel manufacturing facility in Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. - a crucial step to alleviate shortages of the arthritis drug. With about 23,000 patients unable to treat their rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. through a prescription of Enbrel, Amgen is attempting to quash the problem. Pending approval from the Food and Drug Administration, Amgen anticipates increasing its Enbrel production by the first quarter of 2003. ``But right now we are not activating new patients on Enbrel because of the current situation,'' said Rebecca Hamm, spokeswoman for the Thousand Oaks-based biotechnology behemoth behemoth (bē`hĭmŏth, bĭhē`–) [Heb.,=plural of beast], large, fanciful primeval monster, like Leviathan, evoking the hippopotamus mentioned in the Book of Job. . The 250,000-square-foot Rhode Island facility stems from Amgen's $14 billion purchase of Seattle-based Immunex Corp., which received approval from U.S. regulators in July. The deal enmeshed en·mesh also im·mesh tr.v. en·meshed, en·mesh·ing, en·mesh·es To entangle, involve, or catch in or as if in a mesh. See Synonyms at catch. two companies that have been poised to dominate the field of rheumatoid arthritis treatment, with Immunex's blockbuster drug A blockbuster drug is a drug generating more than $1 billion of revenue for its owner each year. The search for blockbusters has been the foundation of the R&D strategy adopted by big pharmaceutical companies, but this looks set to change. Enbrel the prized possession. Hamm said Enbrel's surge in popularity has led to the shortage. To meet the demand, Amgen has plans to build an additional 500,000-square-foot Enbrel plant, also at its Rhode Island location. ``They (Immunex) just didn't realize how quickly the drug was going to take off,'' Hamm said. But Immunex's inability to understand Enbrel's sales potential may ultimately hurt Amgen. Johnson & Johnson's Remicade has garnered strength amid Enbrel's paltry production levels. Fariba Ghodsian, analyst with Roth Capital Partners Roth Capital Partners, LLC, is a full service Investment Banking firm, specializing in the small and micro cap markets. Roth’s focus, according to its official website, "has been, is, and will continue to be providing the full spectrum of investment banking services, in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , said many people have turned to Remicade because Enbrel wasn't available. ``And it's difficult to convince people to switch back to a drug after they're comfortable with another treatment,'' she said. Last year, Enbrel sales accounted for $800 million, but with Amgen's marketing and scientific expertise backing the product, the drug could generate sales of $3 billion by 2005. Immunex projected that Enbrel sales would surge as high as $4 billion by 2005. Despite initial optimism surrounding Amgen's acquisition of Immunex, some analysts remain cautious, saying the rheumatoid arthritis field is already fraught with competition. Another Enbrel competitor - D2E7 - is developed by Abbott laboratories. Abbott has submitted its rheumatoid arthritis drug to regulators in the United States and Europe. If the drug is approved, it could absorb Enbrel sales due to its sheer strength. ``But that has yet to be determined,'; Ghodsian said. `` It will be very interesting to see what happens though by 2003.'' D2E7 has a longer half-life than Enbrel, which means it can be dosed less frequently. ``For this reason, it's certainly a competing product of Amgen,'' said Dennis Harp, analyst with Deutsche Bank Securities Inc. in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . ``But Enbrel still has broader applications, though.'' Enbrel has already been approved for psoriatic rheumatoid arthritis, with expectations that the drug will also be used to treat psoriasis. Amgen shares declined $1.27, or 2.6 percent, to close at $47.26 Friday on the Nasdaq market. |
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