Study Cites Anemia Drug Risks

"Given that this data has already been incorporated into clinical practice, this is unlikely to change usage materially," wrote Citigroup analyst Yaron Werber, who has a buy/high risk rating for the stock and a $75 price target.

Deutsche Bank analyst Mark Schoenebaum, who has a buy rating and a$73 price target, said that he also expects limited impact on utilization trends, although his team continues to believe Amgen's Aranesp cancer business has not yet reached a bottom.

Amgen is working with the FDA to finalize the risk evaluation and management strategy (REMS) for ESAs to ensure that risks are communicated to physicians and patients.

The prescribing guidelines in the studies used in Cochrane's analyses were not based on the drugs' most recent labels, which are more restrictive.

"Amgen is working diligently with the FDA to initiate prospective studies that address ongoing questions regarding survival when ESAs are used according to the current prescribing information," said Roger Perlmutter, executive vice president of research and development at Amgen.

Complete results of the Cochrane Collaboration's meta-analysis are expected to be presented at a scientific conference later this year. Amgen's shares were down fractionally to $58.74 in recent trading Wednesday.