Amgen blood-clotting drug decision delayed

Recs

0

Special Offer!

Jan 12, Motley Fool Pro will accept new members for 10 days only. Your spot is reserved! To learn more, click below.

Biotechnology company Amgen Inc. said Wednesday the Food and Drug Administration will not issue a much anticipated decision this week on whether to approve an experimental blood-clotting disorder drug.

The Thousand Oaks, Calif.-based company expected a decision on its Nplate drug by Wednesday, but in a statement, said there will be no decision yet. Amgen didn't disclose a reason for the delay.

"Amgen continues to work with the FDA to assist in the completion of the review process," the company said in a statement. "We remain optimistic that a final decision will be made soon, but Amgen cannot speculate on the timing of the FDA's response."

Nplate is under review as a treatment for a disorder that causes the body to attack its own platelets, which are tiny components of blood that help with clotting. The condition causes bruises and bleeding after minor injuries and affects about 200,000 people in the U.S. Amgen is targeting an adult population with a chronic form of the condition and estimates that accounts for about 60,000 patients.

The drug has already received a positive recommendation from an outside panel advisers to the FDA, setting it up for approval. The FDA generally follows its advisers' recommendations, though it is not required to do so.

Shares of Amgen fell 76 cents to $53.88 in morning trading.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 690797, ~/articles/articlehandler.aspx, 1/8/2009 2:23:57 AM

Sign up for FREE Motley Fool site access to keep reading:

“Amgen blood-clotting drug decision delayed”

Signing up allows you to comment on articles and on the discussion boards.

It's completely FREE and will take only 10 seconds.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

.

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

What Fools Are Saying

Most Recent

Most Recommended

Jan 7 at 4:08 PM

Market Summary

DJIA 8,769.70 -245.40 -2.72%
S&P 500 906.65 -28.05 -3.00%
NASD 1,599.06 -53.32 -3.23%
Sponsored by:

Related Tickers

Amgen, Inc.

CAPS Rating 4/5 Stars

$58.20

-0.14 (-0.24%)

Outperform1775

Underperform156

Rate This Stock