Friday, March 31, 2006

Catalyst for Amgen?

There's going to be a bit of news flow from Amgen and the biotech group during the next couple of days. Amgen has already issued a press release stating that they have completed the BLA for their colorectal cancer drug. This drug has potential peak sales of over $2 billion. The full phase 3 data from the colorectal drug trial will be released next week at the American Association for Cancer Research conference. So the biotech group may start moving on the various clinical data presented at the conference. An analyst from Robert & Baird Co. has suggested that the use of Arenesp has been strong based on physician surveys. Finally, Amgen closes the Abgenix deal this weekend, 4/1.


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