[Really--amgen spent 19% on R and D last year? and that's way too much?????]

The Disconnect Continues: Amgen Rethinks R&D

By Ed Silverman // October 13th, 2011 // 9:08 am
Taking a page from the big pharma playbook, Amgen is planning to reorganize its R&D operations. And sources says the biotech plans to cut a chunk of the budget and may place less emphasis on discovery. Such a move would mimic what many big drugmakers have been doing in recent years as they attempt to lower their costs and seek the next big-selling molecule elsewhere.
... Amgen, by the way, employs a total of 17,000 people worldwide.


...Cutting R&D would make Wall Street happy. Amgen notched $15.1 billion in revenue during its last fiscal year and spent $2.9 billion, or about 19 percent, on R&D. “The $3 billion R&D line item annually is high and investors see room to start to trim this,” ...

...Ironically, the R&D changes come after the Amgen board has been widely criticized for being too generous with ceo Kevin Sharer. Earlier this year, the board appeased investors by finally offering a dividend, but also hiked his overall compensation from $15 million to $21 million...

http://www.pharmalot.com/2011/10/the...n-rethinks-rd/