San Fernando Valley Business Journal

Amgen Declares Dividend

By Kelly Goff Thursday, March 7, 2013

Biopharmaceutical giant Amgen Inc. declared a 47 cent dividend for the second quarter of 2013 as shares of the company traded at an all-time high.

The dividend in the Thousand Oaks company will be paid June 7 to shareholders of record as of May 16. The dividend amount is the same paid for the first quarter.

The company has been trading at record highs since it first started buying back shares last year, but it faces an expected drop off in sales from its core anemia drugs as generics enter the marketplace.

In related news, the company’s former vice president of R&D, Roger Perlmutter, has been hired by Amgen rival Merck & Co. to lead the firm’s R&D arm, Merck said Thursday.

Merck, which has experienced several clinical failures of pipeline drugs in recent months, is looking to expand into biotechnology drugs similar to many in Amgen’s lineup, which are largely derived from proteins rather than the traditional chemical-based pills.

Shares of Amgen have traded at all-time highs this week, closing at a record $93.44 Tuesday. On Thursday, shares closed at $92.95, a loss of 32 cents or less than 1 percent on the Nasdaq.