Amgen "overweight"

23.11.07 - Lehman Brothers

NEW YORK, November 23 (newratings.com) - Analyst Jim Birchenough of Lehman Brothers reiterates his "overweight" rating on Amgen Inc (AMGN). The target price is set to $72.

In a research note published this morning, the analyst mentions that the company?s competitor, Roche, has submitted an NDA for its IL-6 inhibitor, Actemra, for the treatment of moderate-to-severe rheumatoid arthritis. There is limited threat from Actemra to Roche?s Enbrel, since the latter drug has opportunities in the psoriasis indication, the analyst adds.