Amgen Inc.
AMGN
Health Care
4
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
$212M+ in federal lobbying (2003-2024), consistently among the top pharmaceutical spenders. Lobbying focused on opposing drug pricing reform and Medicare negotiation authority.
FTC 2023 settlement: 15-year prohibition on exclusionary rebate bundling practices that disadvantaged biosimilar competitors; settled with FTC and 9 state AGs
Amgen conducts animal testing as a core part of pharmaceutical R&D. The company publishes no animal-use reduction data despite claiming commitment to 3Rs principles.
$762M criminal guilty plea (2012) for off-label marketing of Aranesp. Amgen promoted the anemia drug for uses not approved by the FDA and at doses exceeding approved limits.
Research Sources
4 organizations
Related Exclusions
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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