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Sunday, Mar 3, 2024

Amgen Suspends International Travel on Coronavirus Concerns

Amgen Inc. on Thursday announced it has suspended all international business travel until March 21 because of the spreading coronavirus outbreak. The Thousand Oaks biotech giant, however, does not anticipate an interruption in its medicine supply; it is monitoring raw material inventory to “mitigate against interruption,” the company said in a statement. Clinical trials will continue across the globe for now. “At this stage, we cannot rule out future impact on our business including sales, manufacturing and clinical trials,” Amgen added in its statement. As for its employees, Amgen is using virtual meeting technology and supporting those who can work from home. Cleaning procedures and visitor screenings are being implemented at all locations. Shares of Amgen (AMGN) closed Thursday down $2.99, or 1.4 percent, at $212.12 on the Nasdaq.

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