Amgen Board Authorizes $5 Billion Increase in Stock Repurchase Program

Amgen today announced that its board of directors has authorized additional repurchases of up to $5 billion in Amgen common stock. The company currently has $1.5 billion remaining under its previous stock repurchase authorization. This new authorization reflects Amgen's confidence in its long-term prospects.

About Amgen

Amgen discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe, effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com

Amgen to Acquire Alantos Pharmaceuticals, a Private Biotechnology Company in Cambridge, Massachusetts

Amgen announced today that it has agreed to acquire Alantos, a private company developing drugs for the treatment of diabetes and inflammatory diseases. Alantos' lead drug candidate, ALS 2-0426, is a DPP-IV inhibitor in clinical development (Phase 2a) for the treatment of type II diabetes.

Under terms of the agreement, Amgen will pay $300 million in cash to acquire Alantos. Following completion of the transaction, Alantos will become a wholly-owned subsidiary of Amgen. The acquisition has been approved by the boards of directors of each company and the shareholders of Alantos. It is subject to customary closing conditions, including regulatory approvals, and is expected to close in the third quarter of 2007.

ALS 2-0426 is an orally administered inhibitor of DPP-IV, which in turn inactivates glucagon-like peptide-1 (GLP-1), an important mediator of blood glucose levels following meals. Studies suggest that ALS 2-0426 is potent, highly selective and can be administered once per day. Phase 2a studies were initiated in May in collaboration with Servier, who is the development and ex-US commercialization partner for the compound.

"We are pleased to add this clinical stage DPP-IV inhibitor to our growing portfolio of therapeutics for the treatment of metabolic diseases," said Roger M. Perlmutter, M.D., Ph.D., Amgen's executive vice president for Research and Development. "We also intend to pursue the MMP program with the hope of bringing a novel, disease modifying therapy into the clinic for osteoarthritis."

"We are happy to have reached an agreement with Amgen that will build on the important research and development accomplished to date and will help to advance promising compounds to patients with serious and life-threatening illnesses," said Alantos's chief executive officer, Keith E. Dionne, Ph.D.

About Amgen

Amgen discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com

About Alantos

Alantos Pharmaceuticals is a chemistry-driven biopharmaceutical company with a proprietary pipeline of small molecule drugs focused in the area of type II diabetes and osteoarthritis / inflammation. With locations in Cambridge, Massachusetts and Heidelberg, Germany, Alantos Pharmaceuticals employs 45 people.

Amgen to Acquire Ilypsa

Amgen announced today that it has agreed to acquire Ilypsa, a private company developing non-absorbed drugs for renal disorders. Ilypsa’s lead drug candidate, ILY101, is a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis.

Under terms of the agreement, Amgen will pay $420 million in cash to acquire Ilypsa. Following completion of the transaction, Ilypsa will become a wholly-owned subsidiary of Amgen. The acquisition has been approved by the boards of directors of each company and the shareholders of Ilypsa. It is subject to customary closing conditions, including regulatory approvals, and is expected to close in the third quarter of 2007.

“Amgen is dedicated to developing medicines that improve the lives of patients around the world. Ilypsa and ILY101 are a strategic fit for Amgen’s nephrology portfolio and further demonstrate our commitment to explore, develop and commercialize promising therapies that help in the fight against kidney disease and its complications,” said George J. Morrow, Amgen’s executive vice president of Global Commercial Operations.

“We are delighted to reach an agreement with Amgen that will help drive Ilypsa’s most promising therapeutic program closer to commercialization as an important new option for patients,” said Jay Shepard, president and chief executive officer of Ilypsa.

“I am proud of the talented team at Ilypsa and believe Amgen offers a promising future for our extraordinary drug candidates.”

ILY101 is an orally administered, non-absorbed polymeric agent that works by preventing the absorption of ingested phosphate. Studies suggest that ILY101 may have enhanced phosphate binding selectivity and capacity compared to currently available polymeric phosphate binding agents. ILY101 has completed Phase 2 trials in patients with CKD who are on hemodialysis.

About Amgen

Amgen discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com

About Ilypsa

Ilypsa, Inc. is a privately held biopharmaceutical company discovering and developing a pipeline of next-generation renal care pharmaceutical products. Pioneering the use of a proprietary high throughput discovery and development platform, Ilypsa has rapidly created non-absorbed polymeric phosphate and potassium binder compounds to treat chronic kidney disease, and has additional programs in kidney, infectious and metabolic diseases. To learn more about Ilypsa, visit www.Ilypsa.com

Amgen to Offer $4 Billion in Three Series of Senior Notes; Company to Purchase Approximately $3 Billion in Common Stock

Amgen (NASDAQ:AMGN) today announced its intention to offer, subject to market and other conditions, Senior Notes due 2017, Senior Notes due 2037, and Senior Floating Rate Notes due 2008 through offerings pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The interest rate and other terms are to be determined by negotiations between Amgen and the initial purchasers of the notes.

Amgen expects to use the net proceeds from the offering to purchase approximately $3 billion worth of shares of its common stock, including through one or more block trades with one or more of the initial purchasers and/or their affiliates. Any remaining proceeds will be added to Amgen's working capital and will be used for general corporate purposes, including capital expenditures, other working capital needs and other business initiatives, including acquisitions and licensing activities.

This notice does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum. The notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Amgen

Amgen discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com.