Biotech Values

[DewDiligence]

AMGN laying off 12-15% of global workforce, but increasing its presence in San Francisco and Boston/Cambridge:

http://finance.yahoo.com/news/amgens-second-quarter-2014-revenues-203700142.html

The Company announced a restructuring plan today to invest in continuing innovation and the launch of its new pipeline molecules, while improving its cost structure. Initial efforts include streamlining the organization, reducing layers of management, increasing managerial spans of responsibility and beginning implementation of a revised geographic site plan.

As a first step, the Company will reduce staff by 2,400-2,900, beginning later this year and continuing through 2015, predominantly in the U.S. This represents approximately 12 percent to 15 percent of Amgen's global workforce. The Company will also close its facilities in the states of Washington and Colorado.

…The Company will expand its presence in the biotechnology hubs of South San Francisco and Cambridge, MA…

Everyone in pharma/biotech wants to be in the Boston/Cambridge area.