Amgen Moves to Reassure Investors

Amgen Inc. executives on Thursday reassured investors that its anemia drug Aranesp is safe and effective when used correctly. Studies released this year of Aranesp and similar drugs that increase carrying hemoglobins in red blood cells found that some cancer and kidney disease patients taking it have additional health problems. In a call to analysts, Amgen CEO Kevin Sharer said there are concerns but reassured investors. “The totality of what is going on now is giving us headwind in this business,” he said. “We are doing darndest to be as open and complete as we can so investors can make judgments.” Sharer said financial guidance for 2007 remains the same. Aranesp amounted to about $4.1 billion in sales for Thousand Oaks-based Amgen last year.