Amgen reiterated by Merrill Lynch at buy

Amgen Inc. was reiterated by Merrill Lynch analyst Eric Ende at a buy rating with a price target on the stock of $87 per share following a meeting with management. Merrill came away from the meeting with a sense that the company's strong business momentum in 2005 should carry into 2006 and that its pipeline could re-accelerate growth in 2008, particularly if AMG-162 for osteoporosis and AMG-706 for cancer are successful. Amgen shares Friday were up $2.22, or 2.70%, at $84.51 on volume of 12,551,164 shares versus the three-month running average of 9,496,930 shares.

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