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Amgen to Present Data at ESC - Analyst Blog

Posted: 8/28/2013 1:20:00 PM
Referenced Stocks: AMGN;BIIB;CYTK;ONXX

Amgen ( AMGN ) recently announced that it will be presenting new data on two promising pipeline candidates, omecamtiv mecarbil and AMG-145, at the upcoming ESC Congress, organized by the European Society of Cardiology, in early September.

Omecamtiv mecarbil, which is being developed in collaboration with Cytokinetics, Incorporated ( CYTK ), is being evaluated for the treatment of heart failure. Results will be presented from the phase IIb ATOMIC-AHF study (Acute Treatment with Omecamtiv Mecarbil to Increase Contractility in Acute Heart Failure), which is evaluating the safety, tolerability and efficacy of an intravenous formulation of omecamtiv mecarbil in patients with acute heart failure.

Efficacy and safety data on AMG145, Amgen's cholesterol management candidate, will be presented from a pooled analysis of four phase II studies including MENDEL, LAPLACE-TIMI 57, GAUSS and RUTHERFORD.

Amgen has been in the news recently following its announcement regarding its plans to acquire Onyx Pharmaceuticals, Inc. ( ONXX ). With this acquisition, Amgen will be strengthening its presence in the oncology market. Onyx Pharma basically focuses on developing and commercializing treatments for cancer. Marketed products include Kyprolis (relapsed and refractory multiple myeloma), Nexavar (liver and kidney cancer) and Stivarga (metastatic colorectal cancer and metastatic gastrointestinal stromal tumor). Advanced pipeline candidates include palbociclib (phase III - ER+, HER2-negative advanced breast cancer) and oprozomib (phase Ib/II - multiple myeloma).

With key products in Amgen's portfolio slated to lose exclusivity in the coming years, contributions from Onyx Pharma's products should help make up for a part of the revenues that will be lost to generic competition.

Amgen currently carries a Zacks Rank #3 (Hold). At present, companies like Biogen Idec ( BIIB ) look well-positioned - Biogen carries a Zacks Rank #1 (Strong Buy).

AMGEN INC (AMGN): Free Stock Analysis Report

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