Merrill keeps Amgen at neutral

Amgen Inc. was maintained by Merrill Lynch analyst Eric Ende at neutral after the company reported positive data for panitumumab in third-line colorectal cancer. Merrill expects approval by the end of the third quarter of this year. The analyst believes the drug will offer more convenient dosing compared to ImClone's Erbitux and will become the market leader. Shares of the Thousand Oaks, Calif., biotechnology company were down 87 cents, or 1.20%, at $71.88 on volume of 10,606,453 shares versus the three-month running average of 10,671,000 shares. (Nasdaq: AMGN)

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