ADVFN - Advanced Financial Network.
HOME» NASDAQ » A » AMGN Stock Price » AMGN Stock News

Amgen Inc. Share News

 Amgen Inc. (mm) Stock Price
AMGN Stock Price
 Amgen Inc. (mm) Stock Chart
AMGN Stock Chart
 Amgen Inc. (mm) Stock News
AMGN Stock News
 Amgen Inc. (mm) Company Information
AMGN Company Information
 Amgen Inc. (mm) Stock Trades
AMGN Stock Trades

Supreme Court to Hear Amgen Challenge to Suit

WASHINGTON--The U.S. Supreme Court said Monday it will consider Amgen Inc.'s (AMGN) challenge to a securities lawsuit alleging the biotech company downplayed safety concerns about two drugs used to treat anemia. The suit, brought by Connecticut pension funds on behalf of purchasers of Amgen stock, alleged the Thousand Oaks, Calif., company repeatedly reassured investors about the safety of anti-anemia drugs Aranesp and Epogen even as clinical trial data raised concerns that the drugs could harm cancer patients who were taking them. Amgen's statements led to inflated share prices, the suit alleged. The lawsuit alleged the misrepresentations took place from April 2004 through May 10, 2007, a day when Amgen's shares dropped more than 9% after a Food and Drug Administration panel expressed concerns about the drugs and recommended new limits on patient use. Amgen is seeking to overturn a lower-court ruling that certified the lawsuit to proceed as a class action. The company said the plaintiffs couldn't show that the alleged misrepresentations had a material effect on the price of Amgen shares. The market had readily available access to the safety information that Amgen allegedly downplayed, the company said. At issue before the Supreme Court is whether securities plaintiffs, before being allowed to proceed with a class action lawsuit, have to demonstrate that a company's alleged misrepresentations materially affected share prices. Amgen argued that companies need to be able to defeat weak lawsuits at early stages of the proceedings. Otherwise, companies will feel financial pressures to settle cases even when they think they have a strong defense, Amgen said. The case is Amgen v. Connecticut Retirement Plans and Trust Funds, 11-1085. The Supreme Court is expected to hear oral arguments in the fall. Write to Brent Kendall at brent.kendall@dowjones.com

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
04/25/201507:06:02Are Biosimilars the Next Big Thing in Biotech?
04/24/201516:54:55Statement of Changes in Beneficial Ownership (4)
04/24/201510:02:02Illumina's Earnings Set Positive Tone for Biotech
04/23/201517:31:15Confidential Treatment Order (ct Order)
04/23/201517:06:07Statement of Changes in Beneficial Ownership (4)
04/23/201517:02:33Nasdaq Composite Closes at Record High
04/23/201515:47:20Nasdaq Composite Rises Above March 2000 Record Close
04/23/201514:44:46AbbVie Profit Rises on Broad Sales Growth -- Update
04/23/201513:29:06Amgen, Inc. Earnings: 4 Things You Probably Overlooked
04/23/201512:03:02Is Amgen Inc.'s Dividend Sustainable?
04/23/201505:10:21Barclays Reiterates "Equal Weight" Rating for Amgen (AMGN)
04/22/201517:04:58Additional Proxy Soliciting Materials (definitive) (defa14a)
04/22/201517:00:39Additional Proxy Soliciting Materials (definitive) (defa14a)
04/22/201510:49:40Amgen Price Target Raised to $195.00 (AMGN)
04/22/201510:12:19Nomura Cuts Amgen Price Target to $191.00 (AMGN)
04/22/201504:35:02Amgen PT Raised to $187.00 at Leerink Swann (AMGN)
04/22/201503:41:08RBC Capital Raises Amgen Price Target to $185.00 (AMGN)
04/21/201517:14:12Amgen Reports Higher Earnings, Outlook -- Update
04/21/201516:50:10Amgen Posts 51% Rise in Profit, Boosts Outlook
04/21/201516:35:18Amgen Posts 51% Rise in Profit, Boosts 2015 Outlook

Amgen Inc. and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad