Merrill keeps Amgen at neutral

Amgen Inc. was maintained at a neutral rating by Merrill Lynch analyst Eric Ende after the Food and Drug Administration, as expected, granted priority review for panitumumab in third-line colorectal cancer. Panitumumab may be dosed once every two weeks, compared to Erbitux, which must be dosed every week. Also, p-mab has a better safety profile and equal efficacy. As a result, Merrill expects panitumumab to gain significant market share over Erbitux. Shares of the Thousand Oaks, Calif.-based biotechnology were up 5 cents, or 0.07%, at $66.94 on volume of 11,568,538 shares versus the three-month running average of 9,078,740 shares. (Nasdaq: AMGN)

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