Amgen Has Investors Convinced

Investors quickly showed their confidence in biotechnology company Amgen when it announced promising study results for denosumab, an experimental treatment for bone loss. However, analysts predict that Amgen will have a difficult time dethroning Novartis, the company behind Zometa and Amgen’s direct competitor in the bone-loss treatment market.
 
Amgen’s stock rose 15 percent in early trading, settling at $59.50 a share at the end of the day. Industry experts are worried that the sudden rise in Amgen’s stock has set expectations for the company that it might not be able to meet. Denosumab will not even be approved by the FDA …read more