Amgen Sees Favorable Results In Bone Drug Study

Biotech giant Amgen (Nasdaq: AMGN) said its osteoporosis drug candidate denosumab outperformed a rival drug in delaying and reducing bone fracture in men with prostate cancer.

Amgen's Prolia, the other name for denosumab, is viewed by analysts as the company's next blockbuster drug and a way to jolt the company's lackluster revenue stream. Prolia is being reviewed by the FDA for treatment of postmenopausal osteoporosis and patients suffering from bone fracture related to the treatment of breast and prostate cancer.

Amgen plans to send the test results to the FDA later this year.