Amgen investors had plenty to cheer about this morning after seeing some impressive data on D-mab's ability to reduce fractures among post-menopausal women with osteoporosis. The therapy reduced new spine fractures by 68 percent compared to placebo and reduced hip fractures by 40 percent. The news triggered a 5 percent surge in Amgen stock.
Researchers had already alerted the industry that the study had been a success, but held back the details for this week. Analysts say that an approved denosumab--a twice yearly injection--could be worth two to three billion dollars a year. But observers also note that D-mab is going to have to prove itself against standard therapies in order to reach mega blockbuster status.
On Monday Amgen released data from a study illustrating that patients preferred D-mab to Fosamax and also demonstrated greater increases of bone density.
- read Amgen's release
- check out the report from TheStreet