Amgen To Achieve Carbon Neutrality By 2027

Rhea-AI Summary

Amgen (NASDAQ: AMGN) has launched a seven-year environmental sustainability plan, aiming for carbon neutrality by 2027. The company plans to reduce water use by 40% and waste disposal by 75%. Since 2007, Amgen achieved a 33% reduction in carbon emissions even while expanding production and revenue. The initiative involves an investment of over $200 million to enhance sustainability and operational efficiencies. Innovations include biomanufacturing plants that produce 70% less carbon compared to traditional facilities, aiming to engage suppliers in carbon reduction efforts as well.

Positive

• Targeting carbon neutrality by 2027 enhances corporate responsibility.
• Investment of over $200 million to improve sustainability measures.
• Past achievements: 33% reduction in carbon emissions since 2007, while growing production and revenue.

Negative

• None.

THOUSAND OAKS, Calif., Jan. 11, 2021 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced the launch of a new seven-year environmental sustainability plan, which includes a commitment to achieve carbon neutrality, while also reducing water use by 40% and waste disposed by 75%.

"As a science-based company with a mission to serve patients, we understand the profound impact that climate change is having on human health around the world," said Robert A. Bradway, chairman and chief executive officer at Amgen.  "Our new commitments expand on our previous achievements and drive Amgen's continued leadership on environmental sustainability that will benefit our patients, staff, shareholders and communities."

Since 2007, Amgen has implemented projects resulting in a 33% reduction in carbon emissions, a 30% reduction in water use and a 28% reduction in waste. These reductions were achieved even as the company increased production capacity, expanded our presence to more than 100 countries and grew revenues significantly.

Amgen will invest more than $200 million to achieve these 2027 environmental commitments, and expects that such investment will help us to become not just more environmentally sustainable but also more flexible and productive, resulting in reductions in operating costs from such efficiencies over the same period. The company will focus on the use of innovative technologies to significantly reduce carbon emissions from Amgen-owned operations, as well as on sourcing renewable energy. For example, Amgen's newest biomanufacturing plant in Singapore generates 70% less carbon than traditional biomanufacturing facilities. The company has built a second such plant in Rhode Island.

Where carbon emissions cannot be eliminated from its operations, Amgen will invest in sustainability projects that sequester or avoid greenhouse gas emissions. In addition, Amgen will engage with its suppliers to assist and encourage carbon reductions throughout its value chain.

More information about Amgen's environmental plans can be found here.

About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.

Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential. 

For more information, visit www.amgen.com and follow us on www.twitter.com/amgen.

Forward-Looking Statements
This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company, including Adaptive Biotechnologies (including statements regarding such collaboration's ability to discover and develop fully-human neutralizing antibodies targeting SARS-CoV-2 to potentially prevent or treat COVID-19), BeiGene, Ltd., or the Otezla acquisition, including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, outcomes, progress, or effects relating to studies of Otezla as a potential treatment for COVID-19, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, 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. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. 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 safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, 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, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

CONTACT: Amgen, Thousand Oaks
Megan Fox, 805-447-1423 (media)
Trish Rowland, 805-447-5631 (media)
Arvind Sood, 805-447-1060 (investors)

 

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SOURCE Amgen

FAQ

What is Amgen's new environmental sustainability plan?

Amgen's new plan aims for carbon neutrality by 2027, with a 40% reduction in water use and a 75% reduction in waste.

How much is Amgen investing in sustainability efforts?

Amgen plans to invest over $200 million to achieve their environmental commitments.

What are the carbon reduction targets for Amgen?

Amgen has set a goal for carbon neutrality by 2027, building on a 33% reduction in carbon emissions since 2007.

Where are Amgen's biomanufacturing plants located?

Amgen's new biomanufacturing plants are located in Singapore and Rhode Island.