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Amgen (AMGN Quote) wants back into the biotech growth club, and with its experimental bone drug denosumab, the biotech company may have finally found its golden ticket.
Late Friday, Amgen announced that denosumab reduced the risk of spine and hip fractures compared to placebo in a large phase III study of postmenopausal women with osteoporosis.
The success of the denosumab study is welcome news for Amgen after 18 months of woes tied to falling sales of its anemia drugs. Denosumab has the potential to generate several billion dollars in sales for Amgen, which is desperate for a new blockbuster drug to jack up top- and bottom-line growth. ...
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