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 across its pharmaceutical R&D pipeline, including preclinical studies for biologics, oncology, and cardiovascular therapies. While the company publishes a 3Rs (Replacement, Refinement, Reduction) commitment and claims to be developing New Approach Methods (NAMs) including 3D tissue models and recombinant endotoxin tests, it discloses no quantitative animal-use reduction data, no annual animal counts, and no timeline for meaningful reduction. Industry peers like Roche and Novo Nordisk publish annual animal use figures; Amgen does not.
$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
9 organizations
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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.
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