Pac Premier
Giving Guide
You are here:  Home  >  Current Article

Amgen stock rises

By   /   Saturday, July 11th, 2009  /   Comments Off on Amgen stock rises

    Print       Email

Thousand Oaks-based Amgen’s stock price rose the most in four years July 8 after the company reported its lead experimental product, a bone strengthening medicine, worked better than a potential rival in a study, Bloomberg News reported.


Shares surged $8.16, or 16 percent, to $60.39 at 9:44 a.m. in Nasdaq Stock Market composite trading. Earlier the shares reached $60.95, the most since July 20, 2005, a day after the company reported a 38 percent jump in quarterly profit.

Study results for the drug, called denosumab, were announced yesterday after the market closed. Denosumab did a better job in the clinical trial than Novartis AG’s Zometa delaying fractures and other complications in breast cancer patients whose illness had spread to their bones, Amgen said yesterday.

Are you a subscriber? If not, sign up today for a four-week FREE trial or subscribe and receive the 2009 Book of Lists free with your purchase.

    Print       Email