Summary
Amgen Inc. (AMGN) filed an 8-K on April 25, 2005, to report a material definitive agreement. Specifically, on April 19, 2005, Amgen, its subsidiary Immunex Corporation, and Wyeth entered into Amendment No. 3 to their Amended and Restated Promotion Agreement. This amendment, effective January 1, 2005, pertains to the promotion of Enbrel® in the United States and Canada. The key aspect of this amendment is the agreement to equally share costs for certain full-time equivalents (FTEs) involved in medical affairs functions. These functions include crucial activities such as strategic medical and scientific consultation, review of promotional materials, publication planning, clinical trial design input, responding to medical inquiries, and execution of clinical programs. This cost-sharing arrangement applies to FTEs employed by both Wyeth and Immunex, provided these costs are pre-approved by both parties and align with the terms of the amendment and the original promotion agreement.
Key Highlights
- 1Amgen, Immunex, and Wyeth entered into Amendment No. 3 to their Enbrel® Promotion Agreement.
- 2The amendment is effective as of January 1, 2005.
- 3The agreement covers the promotion of Enbrel® in the United States and Canada.
- 4Key change: Equal cost-sharing for specific medical affairs full-time equivalents (FTEs) employed by Wyeth and Immunex.
- 5Covered medical affairs functions include strategic consultation, material review, publication planning, clinical trial support, medical inquiries, and clinical program execution.
- 6Shared costs require advance approval from both parties.
- 7This agreement is considered a material definitive agreement.