Amgen Shares Touch New Record

Amgen (AMGN) shares rose to a new record on Monday as the company and Allergan (AGN) said a phase 3 study support ABP 980 as a Herceptin (trastuzumab) biosimilar in patients with human epidermal growth factor receptor 2-positive early breast cancer compared with the originator product.

AMGN was up 2% at $183.85 recently, trading in a new 52-week range between $133.64 and $184.41. AGN was down 0.1% recently.

Amgen said that according to local review, 48% and 40.5% of patients in the ABP 980 arm and trastuzumab arm, respectively, achieved pathologic complete response.

“The results presented today reinforce the potential of ABP 980 for breast cancer patients, and we look forward to continued discussions with regulatory authorities,” said Sean Harper, executive VP of research and development at Amgen.

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