NEW YORK—Biotechnology company Amgen Inc. said late Wednesday it will cut up to 14 percent of its work force and it lowered its profit guidance because of slimmer than expected sales of its anemia drug Aranesp.
The company said it plans to reduce its work force by 12 percent to 14 percent, or between 2,200 and 2,600 positions and will get hit with a restructuring charge between $600 million and $700 million. Amgen also reduced its adjusted earnings per share guidance for the full-year to between $4.13 per share and $4.23 per share from previous guidance of $4.28 per share.
Amgen has a campus in Longmont. The effect on workers there wasn’t immediately known.
Shares of Amgen closed regular trading down 73 cents at $50.59. The stock rose 50 cents in aftermarket trading.
