FDA Approves ENBREL — Immunex Corporation

Immunex Corporation received FDA approval on Nov. 2 for ENBREL (etanercept), a new rheumatoid arthritis and psoriatic arthritis treatment, which subsequently drove the company’s market expansion and ultimately led to its acquisition by Amgen in 1999. This regulatory milestone established a dominant presence in the biologics market, providing resistance to competitive pressure from competing TNF-alpha inhibitors like Humira.