A Big Win For Amgen
Robert Langreth and Matthew Herper, 07.07.09, 07:59 PM EDT
A closely watched study shows the company's most important pipeline drug is more effective than Wall Street expected.


Amgen's experimental denosumab is more effective than Novartis' blockbuster Zometa in preventing advanced breast cancer from damaging bone, Amgen said in a press release Tuesday.

The news caused Amgen ( AMGN - news - people ) shares to surge 13% to $59.30 in after-hours trading, while Novartis ( NVS - news - people ) shares slumped 1.7% to $38.90.

http://www.forbes.com/2009/07/07/den...ech_newsletter

from the article:

"This is good news for women who have bone metastasis," says Eric P. Winer, who has no financial ties to either company and is director of the breast oncology center at the Dana-Farber Cancer Institute. He was "surprised" and "encouraged" by the result. He cautions that he wants to see the full data published before making final decisions."
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He isn't even convinced, but the money will be made long before the data release is. For those with breast cancer, i hope it's true, but the patients are irrelevant in this article.

paula