THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Jan. 31, 2007--Amgen
(NASDAQ:AMGN) today announced that holders of Amgen´s Liquid Yield
Option(TM) Notes due 2032 (Zero Coupon--Senior) and Zero Coupon
Convertible Notes due 2032 (Zero Coupon--Senior) (collectively, the
"Securities") have the right to surrender their Securities for
purchase by Amgen pursuant to the terms of the indentures for the
Securities (the "Put Options"). The Put Options expire on March 1,
The Put Options entitle each holder of the Securities to require
Amgen to purchase all or any part of such holder´s Securities at a
price equal to $755.44 per $1,000 of principal amount at maturity.
Amgen will pay the purchase price solely with cash. If all outstanding
Securities are surrendered for purchase pursuant to the Put Options,
the aggregate cash purchase price will be approximately $1.8 billion.
Holders that do not surrender their Securities for purchase pursuant
to the Put Options will maintain the right to convert their
Securities, subject to the terms, conditions and adjustments
applicable to the Securities.
The opportunity to surrender Securities for purchase pursuant to
the Put Options will commence on Jan. 31, 2007, and will terminate at
5:00 p.m., Eastern Time, on Thursday, March 1, 2007. In order to
exercise the applicable Put Option, a holder must follow the
procedures set forth in the applicable notice to holders. Holders may
withdraw any Securities previously surrendered for purchase at any
time prior to 5:00 p.m., Eastern Time, on March 1, 2007.
Amgen will file a Tender Offer Statement on Schedule TO for each
class of Securities with the Securities and Exchange Commission later
today. In addition, documents specifying the terms, conditions and
procedures for surrendering and withdrawing Securities for purchase,
including the notices to holders, will be available through The
Depository Trust Company and the paying agent. Neither Amgen nor its
board of directors or employees have made or are making any
representation or recommendation as to whether or not any holder
should surrender any Securities.
Amgen discovers, develops and delivers innovative human
therapeutics. A biotechnology pioneer since 1980, Amgen was one of the
first companies to realize the new science´s promise by bringing safe
and effective medicines from lab, to manufacturing plant, to patient.
Amgen therapeutics have changed the practice of medicine, helping
millions of people around the world in the fight against cancer,
kidney disease, rheumatoid arthritis, and other serious illnesses.
With a deep and broad pipeline of potential new medicines, Amgen
remains committed to advancing science to dramatically improve
people´s lives. To learn more about our pioneering science and our
vital medicines, visit www.amgen.com.
This news release contains forward-looking statements that involve
significant risks and uncertainties, including those discussed below
and others that can be found in our Form 10-K for the year ended Dec.
31, 2005 and in our periodic reports on Form 10-Q and Form 8-K. Amgen
is providing this information as of the date of this news release and
does not undertake any obligation to update any forward-looking
statements contained in this document as a result of new information,
future events or otherwise.
No forward-looking statement can be guaranteed and actual results
may differ materially from those we project. The Company´s results may
be affected by our ability to successfully market both new and
existing products domestically and internationally, sales growth of
recently launched products, difficulties or delays in manufacturing
our products and regulatory developments (domestic or foreign)
involving current and future products and manufacturing facilities. In
addition, sales of our products are affected by reimbursement policies
imposed by third party payors, including governments, private
insurance plans and managed care providers and may be affected by
domestic and international trends toward managed care and healthcare
cost containment as well as possible U.S. legislation affecting
pharmaceutical pricing and reimbursement. Government regulations and
reimbursement policies may affect the development, usage and pricing
of our products. Furthermore, our research, testing, pricing,
marketing and other operations are subject to extensive regulation by
domestic and foreign government regulatory authorities. We or others
could identify side effects or manufacturing problems with our
products after they are on the market. In addition, we compete with
other companies with respect to some of our marketed products as well
as for the discovery and development of new products. Discovery or
identification of new product candidates cannot be guaranteed and
movement from concept to product is uncertain; consequently, there can
be no guarantee that any particular product candidate will be
successful and become a commercial product. In addition, while we
routinely obtain patents for our products and technology, the
protection offered by our patents and patent applications may be
challenged, invalidated or circumvented by our competitors. Further,
some raw materials, medical devices and component parts for our
products are supplied by sole third party suppliers.
CONTACT: Amgen, Thousand Oaks
David Polk, 805-447-4613 (media)
Arvind Sood, 805-447-1060 (investors)