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Amgen hopes to raise $1B from European investors

November 14, 2011

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THOUSAND OAKS, Calif.—Biotech drugmaker Amgen Inc. said Monday that it hopes to sell $1 billion to $1.5 billion in debt to European investors to fund its stock buyback plans.

Amgen plans to meet with European investors this week.

Last Monday, Amgen announced a share repurchase program of up to $5 billion. It sold $6 billion in debt to pay for the program on Thursday.

The company's shares fell 43 cents to $57.43 in Monday morning trading.