Amgen Reaffirms Guidance After Hurricane Maria

Amgen Inc. does not anticipate interruptions in its drug supply caused by Hurricane Maria and affirmed its guidance for the year, the company announced Monday. The Thousand Oaks biotech has a manufacturing plant in Juncos, Puerto Rico with about 2,000 employees. However, no product nor in-process inventory was lost due to Maria, which reached Puerto Rico on Sept. 20 and caused an island-wide power outage. The company said it has back-up generators powering its Juncos site and is working to return operations to normal. “The company’s preliminary assessment is that the critical manufacturing areas in our facility in Juncos, Puerto Rico, have not been significantly impacted by this storm,” Esteban Santos, executive vice president of operations at Amgen, said in a statement. Also, Amgen reaffirmed its financial guidance for 2017. Shares of Amgen (AMGN) closed Monday up 53 cents, or a fraction of a percent, to $186.29 on the Nasdaq.