Amgen 2010 Annual Report Download - page 50
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clinical trials. The competitive marketplace for our product candidates is significantly dependent upon the timing of
entry into the market. Early entry may have important advantages in gaining product acceptance, contributing to the
product’s eventual success and profitability. Accordingly, we expect that in some cases, the relative speed with
which we can develop products, complete clinical testing, receive regulatory approval and supply commercial
quantities of the product to the market is expected to be important to our competitive position.
In addition to product candidates and marketed products generated from our internal R&D efforts, we acquire
companies, acquire and license certain product and R&D technology rights and establish R&D collaborations with
third parties to enhance our strategic position within our industry by strengthening and diversifying our R&D
capabilities, product pipeline and marketed product base. These licenses and collaboration agreements generally
provide for non-refundable upfront license fees, R&D and commercial performance milestone payments, cost
sharing, royalty payments and/or profit sharing.
Various public and privately owned companies, research organizations, academic institutions and govern-
mental agencies conduct a significant amount of R&D in the biotechnology industry. We face competition in
pursuing collaborative arrangements and licensing or acquisition activities from other pharmaceutical and
biotechnology companies that also seek to license or acquire technologies, product candidates or marketed
products from these entities. Accordingly, we may have difficulty entering into collaborative arrangements and
licensing or acquiring technologies, product candidates and marketed products on acceptable terms.
See Government Regulation — Clinical Development for a discussion of the government regulation over
clinical development.
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