Celgene's Kyprolis Draws Focus Away From Amgen

Bank of America Merrill Lynch biotech analyst Rachel McMinn commented on how an increased focus on Celgene Corporation's CELG Kyprolis Cardiovascular toxicities among centers have stolen the spotlight from Amgen Inc. AMGN. On Wednesday, RBC reported that Amgen's PCSK9 inhibitor has a 75% probability that the data will be positive after talking with senior management. Earlier, Amgen announced that the PCSK9 inhibitor reduced LDL- C in a 52- week study. Last week, the FDA said that outcome trials are not needed for PCSK9. approval. Today, McMinn examined Krypolis cardiovascular toxicities among centers with extensive treatment experience and noted, "irreversible proteasome binding potentially leads to differential toxicity vs. Velcade." The analyst added that Celgene is looking at reserving Krypolis, Revlimid, and dex for high-risk melanoma. Celgene added that Revlimid and dex may be the key backbone of front-line myeloma therapy. Celgene closed at $155.53 on Wednesday and is currently up 2.07%. Amgen closed at $115.56 yesterday and shares are currently trading down 2.87%.