EXHIBIT 99

                                   AMGEN INC.

                      FACTORS THAT MAY AFFECT THE COMPANY

Factors That May Affect the Company

     Amgen operates in a rapidly changing environment that involves a number of
risks, some of which are beyond the Company's control.  The following discussion
highlights some of these risks and others are discussed elsewhere herein.

  Product development

     The Company intends to continue an aggressive product development program.
Successful product development in the biotechnology industry is highly
uncertain, and only a small minority of research and development programs
ultimately result in the commercialization of a product.  Of the candidates that
are selected for product development, all will not be successfully
commercialized.  Product candidates that appear promising in the early phases of
development may fail to reach the market for numerous reasons, including,
without limitation, results indicating lack of effectiveness or harmful side
effects in clinical or preclinical testing, failure to receive necessary
regulatory approvals, uneconomical manufacturing costs, the existence of third
party proprietary rights, failure to be cost effective in light of existing
therapeutics, or other factors.  There can be no assurance that the Company will
be able to produce future products that have commercial potential.
Additionally, success in preclinical and early clinical trials does not ensure
that large scale clinical trials will be successful.  For example, the Company
has previously announced product development failures in connection with BDNF
(for subcutaneous injection for ALS), a product candidate that did not produce
acceptable clinical results in a specific indication with a specific route of
administration after a Phase III trial; although this product candidate had
demonstrated acceptable preclinical and earlier clinical trial results
sufficient to warrant advancement to a later stage clinical trial.  Further,
clinical results are frequently susceptible to varying interpretations which may
delay, limit or prevent further clinical development or regulatory approvals.
The length of time necessary to complete clinical trials and receive approval
for product marketing by regulatory authorities varies significantly by product
and indication and is often difficult to predict.  See "- Regulatory approvals".

  Regulatory approvals

     The Company's research and development, preclinical testing, clinical
trials, facilities, manufacturing, pricing, and sales and marketing of its
products are subject to extensive regulation by numerous state and federal
governmental authorities in the U.S., such as the FDA, HCFA, as well as by
foreign countries, including the EU.  The success of the Company's current
products and future product candidates will depend in part upon obtaining and
maintaining regulatory approval to market products in approved indications.  The
regulatory approval process can be both a long and complex process, 

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both in the U.S. and in foreign countries, including countries in the EU. Even
if regulatory approval is obtained, a marketed product and its manufacturer are
subject to continued review. Later discovery of previously unknown problems with
a product or manufacturer may result in restrictions on such product or
manufacturer, including withdrawal of the product from the market. Failure to
obtain necessary approvals, or the restriction, suspension or revocation of any
approvals or the failure to comply with regulatory requirements could have a
material adverse effect on the Company.

  Reimbursement; Third party payors

     In both domestic and foreign markets, sales of the Company's products are
dependent in part on the availability of reimbursement from third party payors
such as state and federal governments (for example, under Medicare and Medicaid
programs in the United States) and private insurance plans.  In certain foreign
markets, pricing and profitability of prescription pharmaceuticals are subject
to government controls.  In the United States, there have been, and the Company
expects there to continue to be, a number of state and federal proposals to
implement price controls.  In addition, an increasing emphasis on managed care
in the United States has and will continue to increase the pressure on
pharmaceutical pricing and usage.  Further, significant uncertainties exist as
to the reimbursement status of newly approved therapeutic products and current
reimbursement policies for existing products may change.  Changes in
reimbursement or failure to obtain reimbursement may reduce the demand for, or
the price of, the Company's products which could have a material adverse effect
on the Company including results of operations.  For example, patients in the
U.S. receiving EPOGEN(R) in connection with treatment for end stage renal
disease are covered primarily under medical programs provided by the federal
government.  Therefore, EPOGEN(R) sales may be affected by future changes in
reimbursement rates or the basis for reimbursement by the federal government.
As the Company previously announced, in early 1997, HCFA instituted a
reimbursement change for EPOGEN(R) which has adversely affected the Company's
EPOGEN(R) sales.  See "Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations - Results of Operations - Product Sales -
EPOGEN(R) (Epoetin alfa)".

  Guidelines

     In addition to government agencies that promulgate regulations and
guidelines directly applicable to the Company and its products, professional
societies, practice management groups, private health/science foundations and
organizations involved in various diseases may also publish, from time to time,
guidelines or recommendations to the health care and patient communities.  These
organizations may make recommendations that affect the usage of certain
therapies, drugs or procedures, including the Company's products.  Such
recommendations may relate to such matters as usage, dosage, route of
administration and use of concomitant therapies.  Recommendations or guidelines
that are followed by patients and health care providers and that result in,
among other things, decreased use of the Company's products could have a
material adverse effect on the Company's results of operations.  In addition,
the perception that such recommendations 

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or guidelines will be followed could adversely affect prevailing market prices
for the Company's common stock.

  Intellectual property and legal matters

     The patent positions of pharmaceutical and biotechnology companies can be
highly uncertain and often involve complex legal, scientific and factual
questions.  To date, there has emerged no consistent policy regarding breadth of
claims allowed in such companies' patents.  Accordingly, there can be no
assurance that patents and patent applications relating to the Company's
products and technologies will not be challenged, invalidated or circumvented or
will afford protection against competitors with similar products or technology.
Patent disputes are frequent and can preclude commercialization of products.
The Company currently is, and may in the future be, involved in patent
litigation.  Such litigation, if decided adversely, could subject the Company to
competition and/or significant liabilities, could require the Company to enter
into third party licenses or could cause the Company to cease using the
technology or product in dispute.  In addition, there can be no assurance that
such licenses will be available on terms acceptable to the Company, or at all.

     The Company is currently involved in arbitration proceedings with Ortho
Pharmaceutical Corporation, a subsidiary of Johnson & Johnson ("Johnson &
Johnson"), relating to a license granted by the Company to Johnson & Johnson for
sales of Epoetin alfa in the United States for all human uses except dialysis
and diagnostics.  See Note 4 to the Consolidated Financial Statements,
"Contingencies - Johnson & Johnson arbitrations".

  Competition

     Amgen operates in a highly competitive environment.  The Company competes
with pharmaceutical and biotechnology companies, some of which may have
technical or competitive advantages for, among other things, the development of
technologies and processes and the acquisition of technology from academic
institutions, government agencies and other private and public research
organizations.  There can be no assurance that the Company will be able to
produce or acquire rights to products that have commercial potential.  Even if
the Company achieves product commercialization, there can be no assurance that
one or more of the Company's competitors will not achieve product
commercialization earlier than the Company, receive patent protection that
dominates or adversely affects the Company's activities, or have significantly
greater marketing capabilities.

  Fluctuations in operating results

     The Company's operating results may fluctuate from period to period for a
number of reasons.  Historically the Company has planned its operating expenses,
many of which are relatively fixed in the short term, on the basis that revenues
will continue to grow.  Accordingly, even a relatively small revenue shortfall
may cause a period's results to be below Company expectations.  Such a revenue
shortfall could arise from any number of factors, including, without limitation,
lower than expected demand, changes in wholesaler buying patterns, changes in
product pricing strategies, increased competition from new and existing

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products, fluctuations in foreign currency exchange rates, changes in government
or private reimbursement, transit interruptions, overall economic conditions or
natural disasters (including earthquakes).

  Rapid growth

     The Company has adopted an aggressive growth plan that includes substantial
and increased investments in research and development and investments in
facilities that will be required to support significant growth.  This plan
carries with it a number of risks, including a higher level of operating
expenses and the complexities associated with managing a larger and faster
growing organization.

  Stock price volatility

     The Company's stock price, like that of other biotechnology companies, is
subject to significant volatility.  The stock price may be affected by, among
other things, clinical trial results and other product development related
announcements by Amgen or its competitors, regulatory matters, announcements in
the scientific and research community, intellectual property and legal matters,
changes in reimbursement policies or medical practices or broader industry and
market trends unrelated to the Company's performance.  In addition, if revenues
or earnings in any period fail to meet the investment community's expectations,
there could be an immediate adverse impact on the Company's stock price.

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