The chief executive of Amgen Inc. sought to reassure investors Monday that the company will overcome a variety of difficulties with regulators on its anemia drugs that have threatened to curb their use, the Ventura County Star reports .
"We're a company that obviously has more than our share of challenges right now," Kevin Sharer told analysts at a conference in New York. "We have a new reality in the business and it's not a completely predictable dynamic."
In a presentation to investors, Sharer said the Thousand Oaks-based company plans to continue disputing a Centers for Medicare and Medicaid Services decision to restrict reimbursement on a class of drugs called erythropoiesis-stimulating agents, which include Amgen's Aranesp.
The drugs treat anemia associated with chemotherapy treatment and in patients with kidney failure. The Food and Drug Administration is convening a panel today to discuss safety issues surrounding the class of drugs.
Sharer said the company "can hack it" and will be able to handle the issues with the federal government.
Amgen is trying to muster support from physicians and patient advocates in its dispute over the Medicare decision. The U.S. Senate has already passed a resolution requesting that the agency reconsider its reimbursement decision.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Amgen Shares Up on Senate Resolution
- European Panel Mulling Drug Warnings
- Amgen Falls Ill From Medicare Payment Shifts
- Amgen Faces More Hurdles
- Amgen Anemia-Drug Woes Will Bottom Out, Chief Says
- Amgen CEO Optimistic About Future
- Amgen Stock Stable Despite Bad News Tied to Drug
- Amgen Needs to Get Mojo Working