Amgen Proves It Has the Superior Drug

Updated from Tuesday, July 7

Amgen(AMGN Quote) said a pivotal clinical trial showed its experimental bone drug denosumab was superior to a competing drug from Novartis(NVS Quote) in preventing fractures and other bone-related problems in patients with breast cancer -- positive results that sent the company's shares sharply higher in after-hours trading.

Denosumab is the most important new drug to come out of Amgen's research labs in years and a key to the company's future growth as sales of its flagship anemia drugs, Epogen and Aranesp, have flagged in recent years.

The Food and Drug Administration is currently reviewing denosumab as a treatment for osteoporosis, with an approval decision expected later this year. ...