Project for New Intiative Could Have Billings of $40 Million

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NEW YORK ( -- Global biotech giant Amgen has begun a search for a media buying and planning agency for a project involving a new initiative, executives familiar with the search said.

Few details about the search were released, but the assignment involves the rollout of a specific drug and is expected to have billings that could reach as much as $40 million, the executives said.

U.S. drug market
Amgen this week told investors it expects worldwide sales to increase at a compound annual growth rate of more than 30%, with significant growth in the U.S. market for drugs treating anemia, cancer and inflammation.

Select Resources International, West Hollywood, Calif., is handling the search, the executives said.

Overall, Amgen, based in Thousand Oaks, Calif., works with more than a half dozen marketing communication partners. A spokesman for the company did not return calls yesterday. Amgen had no measured media spending in 2000 or 2001, but spent $3.5 million over the first 11 months of 2002, according to Taylor Nelson Sofres' CMR.

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