Amgen shares keep dropping

After yesterday's 9 percent beating, the Thousand Oaks-based drug firm is down nearly 3 percent, to $55.64. Never mind that it's now hovering at its 52-week low - what investors should really worry about is that Wall Street wants out. At least five different research groups, including Citigroup and Morgan Stanley, lowered their ratings this morning after an FDA advisory panel said that the company's anti-anemia drugs should have additional restrictions on product labels.

9:30 AM Friday, May 11 2007 • Link
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