Amgen Promotes Bradway to CEO

Amgen, the world's largest biotechnology company, said on Monday its chief financial officer, Robert Bradway, has been named president and chief operating officer of the company, effective May 11.

Amgen, which is hoping to win approval this summer for a potential blockbuster osteoporosis drug called denosumab that it hopes will revive lackluster earnings, said Bradway will oversee Amgen's global commercial operations and manufacturing operations. If approved, Amgen plans to sell denosumab under the brand name Prolia.

Amgen said George Morrow, 58, executive vice president of global commercial operations since 2003, will retire effective Jan. 31, 2011. Bradway, 47, will also be responsible for strategy and corporate development, information technology and global government affairs and compliance. Michael Kelly, who has been Amgen's chief accounting officer since 2005, will serve as acting CFO, beginning May 11, the company said in a release.

Bradway, who joined Amgen in 2006 as vice president of operations strategy, became CFO in April 2007. Before joining Amgen, he was a managing director at Morgan Stanley in London where he was responsible for the firm's banking and corporate finance activities in Europe.