Amgen Adopts Plan to Hamper Hostile Takeovers

Amgen, the Thousand Oaks biotechnology company, last week adopted a so-called “poison pill” provision that would make it more difficult for someone to acquire the company. Among other things, if someone acquires 20% or more of Amgen’s stock, it would allow Amgen’s other shareholders to buy additional Amgen stock at a 50% discount.

Amgen has several biotechnology drugs under development and is awaiting U.S. Food and Drug Administration approval to sell its anti-anemia drug.