Post by
Noteable on Mar 17, 2023 1:05pm
Amgen's former stock buyback program on borrowed money fails
... and is coming home to roost as rising interest rates and unreported tax obligations (US$10 Bln) take hold of this company, due to corporate mismangement and a former stock buy-back program using borrowed money when money was cheap. Now Amgen is trying to spin its mismanagement by blaming inflation and drug pricing pressure for the company's troubles.
https://www.fiercepharma.com/pharma/amgen-cuts-450-workers-cites-drug-pricing-pressure-and-inflation