After seeing its fortunes rise and fall on the fate of its anemia drugs, Amgen will attempt to turn to a new page with the release of data from 25 studies devoted to its promising osteoporosis drug denosumab. The data blitz will take place at the annual meeting of the American Society for Bone Mineral Research in Montreal. At stake is denosumab's position in a $7 billion market.
Investors clearly believe that Amgen has a blockbuster on its hands. Its shares have risen from less than $40 to more than $60 on the drug's prospects. About 10 million people suffer from osteoporosis and the majority of them are women. Standard therapies have some harsh side effect for many patients, leaving the market open to a new therapy. Long-term safety has yet to be established, of course. Analysts have been looking for a marketing application later this year with an approval likely in 2009.
- check out the report from the Wall Street Journal