Amgen, Inc. (NASDAQ: AMGN) Ending Studies of Cancer Drug

November 25, 2014 2:22 PM

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[AP] Biotech drugmaker Amgen, Inc. (NASDAQ: AMGN) said Monday it is ending late-stage trials of its gastric cancer treatment rilotumumab because patients who took the drug were more likely to die. Amgen said more patients died after treatment with rilotumumab and chemotherapy than with chemotherapy alone. The company said its decision is based on a scheduled safety review from one late-stage trial. Amgen is terminating that trial and one other. Amgen Inc. is the world’s largest biotechnology company, and its drugs include the anemia treatments Neulasta and Neupogen and osteoporosis therapy Prolia. The company expects $20.8 billion to $21.3 billion in revenue in 2015.

There are currently seventeen analysts that we track that cover the stock. Of those seventeen one, twelve have Buy rating and five have a hold rating. On a consensus basis this yields a score of 2.76 and a buy. The combined price objective of these covering analysts is $144.22, which represents a 3....

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