Amgen sinks as CVOT results draw mixed payer reactions

New cardiovascular outcomes trial data from Amgen Inc. (NASDAQ:AMGN) on PCSK9 inhibitor Repatha evolocumab disappointed investors, but payers are still evaluating the data and Amgen's proposed outcome-based pricing model, which could alleviate their risk.

Amgen lost $11.50 to $168.61 Friday after detailed results from FOURIER, its Phase III CVOT, showed the hypercholesterolemia drug significantly reduced risk of myocardial infarction (MI) and stroke, but failed to cut the risk of cardiovascular death...