Amgen awaits decision.A decision by a Congressional committee could translate into a major blow for the drug maker Amgen Inc. The House Ways and Means WAYS AND MEANS. In legislative assemblies there is usually appointed a committee whose duties are to inquire into, and propose to the house, the ways and means to be adopted to raise funds for the use of the government. This body is called the committee of ways and means. Committee is considering whether to reduce Medicare payments Noun 1. medicare payment - a check reimbursing an aged person for the expenses of health care medicare check bank check, check, cheque - a written order directing a bank to pay money; "he paid all his bills by check" for drugs that treat anemia in kidney failure kidney failure or renal failure Partial or complete loss of kidney function. Acute failure causes reduced urine output and blood chemical imbalance, including uremia. Most patients recover within six weeks. and bundle payments for the drugs and kidney dialysis Dialysis, Kidney Definition Dialysis treatment replaces the function of the kidneys, which normally serve as the body's natural filtration system. , which the government currently pays separately. Amgen has a stake in the decision because its anemia drags, Epogen and Aranesp, make up more than half of the company's $12 billion annual revenue. Any change could cut into those profits. The committee earlier this month heard testimony about the cost and quality of care. Amgen contends the increased costs are the result of tougher standards and a larger and sicker dialysis dialysis (dīăl`ĭsĭs), in chemistry, transfer of solute (dissolved solids) across a semipermeable membrane. Strictly speaking, dialysis refers only to the transfer of the solute; transfer of the solvent is called osmosis. patient population. Any change, the company said, "could result in harm to patients and cost Medicare more money." In a note to investors after the testimony, analyst Geoffrey Porges said the change could hurt Amgen. "We see no way for this to be positively construed by Amgen," he wrote. "There is significant risk to Amgen's earnings from these hearings." It is the latest issue for Amgen concerning its anemia drugs. The company is locked in a patent battle alleging Roche Holding AG violated Amgen's patent when it developed an anemia drug called Cera. Staff Reporter Chris Coates can be reached at (818) 316-3124 or at ccoates@sfvbj.com. |
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