Amgen "neutral"

15.11.07 - Robert W. Baird

NEW YORK, November 15 (newratings.com) - Analyst Christopher J Raymond of Robert W Baird reiterates his "neutral" rating on Amgen Inc (AMGN). The target price is set to $56.

In a research note published this morning, the analyst mentions that Roche's Mircera product has been approved by the FDA for treating anemic chronic kidney disease. Amgen is pursuing legal options to prevent the product?s commercialization in the US, the analyst says. Robert W Baird adds, however, that Amgen faces a couple of more meaningful issues, namely the possibility of further private payer restrictions and the likelihood of the neutropenia franchise suffering a partial spillover effect.