More Misery for Amgen

Shares fell Tuesday after Medicare said it would stop paying for certain uses of the company's Aranesp drug

Medicare had some bad news for Amgen (AMGN) May 14: The government health insurer wants to stop paying for certain uses of Amgen's most lucrative drug, Aranesp. The drug, which can help chemotherapy patients battle anemia, made up $1 billion of Amgen's $3.6 billion in sales in the first quarter of this year.

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