Trial A Success, Amgen (AMGN) CEO Doesn't Have To Quit
8/5/2014 6:00:19 AM
The success of a clinical trial of Amgen's AMGN +2.5% multiple myeloma drug Kyprolis will likely mean that the medicine will remain on the market and serve to ease investor concerns about the biotechnology company’s management team. Amgen acquired Kyprolis when it purchased Onyx Pharmaceuticals for $10.4 billion last year. At the time, the medicine, which was seen as the key to the deal, had only been granted a conditional approval by the Food and Drug Administration based on a study without a control group in which 23% of patients who had failed other therapies responded to the new drug.
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