Amgen committed to pipeline, not breakup

Amgen Inc. (NASDAQ:AMGN) shares traded up $8.99 to $157.19 on Tuesday after it mapped out its growth strategy at its investor meeting and said it has no intention to break up.

Amgen is under pressure from activist investor Third Point to split into a "Mature Products Company" housing legacy products plus biosimilars and a "Growth Products Company" developing Amgen's novel products (see BioCentury, Oct. 27). ...