Amgen downgraded to neutral by Merrill

Amgen Inc. was downgraded to neutral from buy by Merrill Lynch analyst Eric Ende on indication there is little to get the stock moving in the next 6 months. Merrill does not expect 2006 product revenue growth to exceed guidance of 12% to 16%. The Roche patent overhang and lack of meaningful clinical data led to the downgrade. Shares of the Thousand Oaks, Calif., biotechnology company were down 59 cents, or 0.82%, at $71.31 on volume of 21,658,156 shares versus the three-month running average of 7,584,000 shares. (Nasdaq: AMGN)

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