Merrill reiterates Amgen at buy

Merrill Lynch analyst Eric Ende reiterated Amgen Inc. at a buy rating on expected new data and in-line guidance. Merrill anticipates new data for panitumumab (p-mab) in front-line colorectal cancer and for denosumab in rheumatoid arthritis, which could provide upside to 2007 to 2010 sales estimates. Total revenue growth guidance of 12% to 15% is anticipated, in line with current consensus of 14% growth. Shares of the Thousand Oaks, Calif., pharmaceutical company were down 78 cents, or 1.03%, at $74.90 on volume of 16,196,706 shares versus the three-month running average of 7,246,190 shares. (Nasdaq: AMGN)

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