NEW YORK (AP) -- A federal judge ruled Friday that Amgen Inc. must defend itself against charges it misled investors about safety concerns with its flagship anemia drug, Aranesp.
U.S. District Court Judge Philip S. Gutierrez dismissed charges against five of nine Amgen officers and directors but left plaintiffs 30 days to amend their complaint in order to include those defendants.
The investors, led by Connecticut Retirement Plans and Trust Funds, assert that positive statements made by company officials regarding the safety of Amgen's two anemia drugs, Aranesp and Epogen, were knowingly at odds with clinical studies that had raised concerns.
The plaintiffs assert, according to court filings, that they unknowingly purchased artificially inflated shares, between April 2004 and May 2007. "Amgen's growth projections were unsustainable in light of the (sic) Amgen's unsustainable off-label sales and the safety profile" of anemia drugs in general, according to court filings summarizing plaintiffs' complaints.
more...
http://biz.yahoo.com/ap/080206/amgen_trial.html?.v=1
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore