Amgen's osteoporosis drug meets study goal

THOUSAND OAKS, Calif. - Biotechnology company Amgen Inc. said Friday its osteoporosis drug reduced the incidence of fractured vertebrae in postmenopausal women, meeting a late-stage study goal and driving shares higher in after-hours trading. The stock jumped $5.34, or 9.9 percent, to reach $59.26 in in after-hours trading after rising 8 cents to close at $53.92. The Phase III clinical trial involved 7,800 women over three years and compared denosumab with placebo. The drug candidate, which is being viewed as the company's next key revenue driver, was administered once every six months. Adverse and serious adverse events, or side effects, were similar in patients receiving injections of both denosumab and placebo. "This long-awaited study demonstrated that denosumab treatment both increased bone mass and reduced the risk of... [read full story]