Amgen shares have dropped 27 percent the past year with two-thirds of the decline coming since early December, reflecting investor fears its best-selling anemia drugs could plunge again this year after 25 percent revenue drops in 2007, the Associated Press reports.
Driving the declines: federal regulators coming down on the anemia treatments, which have been linked to increased risk of death and cancerous tumor growth surges.
Next Thursday, an outside panel of experts for the Food and Drug Administration will review data on three injectable anemia drugs: Epogen and Aranesp, made by Amgen, and Johnson & Johnson's Procrit.
The drugs treat the blood-disorder anemia patients with kidney failure or who are undergoing chemotherapy.
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