Sources Say Amgen Plans To Sell Biotech Japanese Unit (Japan)

The world's largest biotechnology company, Amgen plans cost reductions, beginning by closing its Japan unit, according to sources. U.S.-based Amgen is suffering a decline in sales and is asking $403 million for its Tokyo operation, beginning the talks with Japanese drugmakers. A spokeswoman called the reports "speculation." The Japan unit develops biotech treatments for asthma, cancer and rheumatoid arthritis in Japan. (Click here for more