Highlights of weekly biotech stock moves
Regulatory, clinical and other milestones
Amgen Inc. (NASDAQ:AMGN) was off $0.63 to $55.05 on a newsy Friday. The European Commission approved Xgeva denosumab to prevent skeletal-related events in adults with bone metastases from solid tumors.
Meanwhile, the company resolved U.S. patent litigation with Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA), which admitted that its Neutroval (XM02) infringes two U.S. patents covering Amgen's Neupogen filgrastim and agreed not to sell its biologic in the U.S. until after November 2013.
Teva received a complete response letter last year for a BLA for Neutroval; the product was approved in 2008 in Europe as a biosimilar version of Neupogen. Teva was off $1.50 to $47.97 for the week.
Separately, Micromet Inc. (NASDAQ:MITI) gained $0.53 to $6.29 last week after partnering with Amgen to