Amgen Prostate Cancer Data May Lift Sales $2 Billion
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Amgen Inc.’s denosumab delayed the spread of prostate cancer to men’s bones in a study that may help boost sales by $2 billion a year. The company’s shares rose the most since June.
Use of the drug stalled the malignancy’s spread by 4.2 months, Thousand Oaks, California-based Amgen said in a statement yesterday. The study, part of the final phase of testing usually needed for U.S. approval, didn’t find a survival benefit.