Amgen Rises as Profit Tops Estimates on Drug Sales
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Amgen Inc., the world’s largest biotechnology company, rose the most in eight months after second-quarter profit topped analysts’ estimates on increased demand for its rheumatoid arthritis and bone drugs and the company raised its 2012 forecast.
Amgen climbed 5.8 percent to $83.92 at the close of trading in New York, its largest single-day gain since Nov. 7. The shares of the Thousand Oaks, California-based company increased 31 percent this year.