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Amgen reaffirms earnings outlook after hurricane hits Puerto Rico

By   /   Monday, September 25th, 2017  /   Comments Off on Amgen reaffirms earnings outlook after hurricane hits Puerto Rico

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After reviewing the impacts to its Puerto Rico manufacturing facility from Hurricane Maria, Thousand Oaks biotech giant Amgen reaffirmed its earnings outlook Sept. 25 and said that outreach to impacted staff was ongoing.

The storm did not damage any product or in-process inventory at the plant, and the company said it did not expect any interruptions to patient supply.

Back-up generators are currently powering the site, and the company said it is working to get operations back to normal.

“The company’s preliminary assessment is that the critical manufacturing areas in our facility in Juncos, Puerto Rico, have not been significantly impacted by this storm,” Esteban Santos, executive vice president of operations, said in a news release. “We expect to maintain our long-term track record of reliably supplying our patients with the medicines they need.”

The company has more than 2,000 employees at its Puerto Rico facility. It had previously pledged $3 million to relief efforts and activated its Staff Disaster Relief Fund, which includes financial assistance for shelter, medical attention, clothing and other services.

It said it would also commit up to $2 million to support future rebuilding efforts, and the Amgen Foundation will match donations made by its staff toward recovery efforts for hurricanes Maria, Irma and Harvey, as well as the earthquakes in Mexico.

“Our thoughts are with our colleagues, their families and everyone impacted by the devastation in Puerto Rico. We are committed to assisting with the relief and rebuilding efforts for all those who call the island their home,” said Cynthia M. Patton, chief compliance officer at Amgen and chair of the Amgen Foundation board of directors.

• Contact Marissa Nall at [email protected]

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