FDA Approves Amgen's Long-Awaited Anemia Drug

Amgen said Tuesday that U.S. drug regulators have cleared the way for the biotech giant to sell its new anti-anemia drug, Aranesp.

The Food and Drug Administration approved the drug for patients suffering from anemia related to kidney disease. Aranesp is a longer-acting version of Amgen's current blockbuster anti-anemia drug, Epogen.

The final approval of Aranesp was a highly anticipated event in biotech. Wall Street and Amgen were expecting to launch the drug in the first half of the year, but negotiations between the company and the FDA slowed down the process. ...