Amgen Delays

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By Ed Silverman // April 11th, 2007 // 10:33 am

Earnings Report
(Yahoo/Reuters)Amgen Delays

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  1. Chris O'Toole

    According to yesterday’s WSJ Amgen has lost $20bn off its market cap since October. During this time, in December, Amgen learned of a study that the Danish Head and Neck Cancer Group had stopped an Aranesp study for ethical reasons. Amgen didn’t make any public comment until Feb 16th. AMgen is now facing an SEC inquiry into its reponse to this news. Not good if you’re the CFO, but no doubt Amgen will regroup, learn from it, and plough more into R&D, although more and more it seems that new aproaches are needed to drug development, and not just from Amgen.

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