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Biotech / Medical : Amgen Inc. (AMGN) -- Ignore unavailable to you. Want to Upgrade?

To: JGoren who wrote (850)	10/21/1999 7:28:00 PM
From: Mephisto	Read Replies (1) \| Respond to of 1906

Amgen will split its stock in November.

To: JGoren who wrote (850)	10/21/1999 7:33:00 PM
From: Mephisto	Respond to of 1906

U.S. scientists find protein key to Alzheimer's By Maggie Fox, Health and Science Correspondent WASHINGTON, Oct 21 (Reuters) - Researchers have found a protein essential to the development of Alzheimer's disease, and say that drugs similar to those that have helped subdue the AIDS virus might be used to treat the brain-destroying Alzheimer's. Although such drugs will not be on the market for years, the researchers, at California-based Amgen Inc. [AMGN-news] and the Harvard Medical School in Boston, say their discovery gives them a target to aim for. Writing Friday's edition of the journal Science, the researchers say the protein, which they have called BACE, allows other brain proteins to turn into the harmful form that marks Alzheimer's disease. "The problem with Alzheimer's disease is that there is no effective treatment," said Martin Citron of Amgen, who led the research, in a telephone interview. Alzheimer's, which affects about four million people in the United States, including former President Ronald Reagan, starts with memory loss and progresses to profound dementia and death. There is no cure, although a few drugs can slow its progression. The ailment is marked by brain clots known as amyloid plaques, and tangles of nerve cells. A peptide, or protein fragment, known as amyloid beta peptide is believed to be key to the development of these plaques. "OVERWHELMING EVIDENCE" FOR ROLE "There has been overwhelming evidence over the last six years or so that the beta peptide that forms amyloid plaques plays an early and critical role in the disease," Citron said. This peptide is cut, or cleaved, off a larger protein known as amyloid precursor protein. It was known that two special slicing proteins, known as proteases, did this. But no one could find them. Citron's team said they have now identified one of these two proteases. Their protease, BACE, cuts, or cleaves, the amyloid precursor protein. The next step, Citron said, is to come up with a compound that stops it from doing this. Such a compound might even be a protease inhibitor similar to the drugs that, when added to cocktails of other drugs, have helped keep HIV infection at manageable levels in thousands of patients. "We think the same kind of inhibitor development strategy might be useful. We are interested in that," Citron said. But unlike the HIV protease inhibitors, one designed to work against Alzheimer's might work on its own. "HIV is an infectious agent and it mutates at a very rapid pace whereas this one is not an infectious agent," Citron said. "There is a possibility that a protease inhibitor alone could do it. But only clinical trials could show that." Such trials would be years away. Citron declined to comment if Amgen had started trials of such compounds in animals, or whether the company had patented its discovery.

To: JGoren who wrote (850)	10/22/1999 9:56:00 AM
From: David Wiz	Read Replies (2) \| Respond to of 1906

I was also disappointed that they plan to repurchase shares, although remember that they are just authorizing the repurchase and may not actually do it. I think management just wimped out and decided to temper the bad news with a repurchase and a split.

To: JGoren who wrote (850)	10/26/1999 10:11:00 PM
From: Dorine Essey	Respond to of 1906

Leerink Swann Announces Investment Opinion on Amgen October 26, 1999 05:01 PM BOSTON--(BUSINESS WIRE)--Oct. 26, 1999-- Amgen AMGN Buy Recommendation From Leerink Swann Upgraded From Attractive to Buy; 12 Month Price Target $97 Buy Rating Based On Valuation, Near Term Information Flow, and Product Launches On-Track Leerink Swann & Company raised its rating on Amgen AMGN on October 22nd to Buy from Attractive based on valuation and near-term information flow. In addition, Amgen is on track for significant product launches starting in 2001. Analyst Tom E. Hancock said, "Our one-year price target for Amgen is $97, based on a multiple of 45x our 2000 EPS estimate of $2.17." Note: on 10/25/99, Amgen shares closed at 79 15/16. Mr. Hancock noted that Amgen's NESP (a longer-acting version of Epogen) is on schedule for a 1H 00 FDA filing for the treatment end-stage renal disease." We believe approval and launch could occur by the beginning of 2001. Most significantly, new data from the European Phase III NESP trial will be released at the American Society of Nephrology on November 7th." Mr. Hancock said. NESP is also in clinical trials for use in oncology. Also on track is the development of GnRH antagonist abarelix, for treatment of prostate cancer and endometriosis. Amgen's IL-1ra for the treatment of rheumatoid arthritis also is on track for a potential launch in 2001, as is the development of SD/01, a sustained activity version of Neupogen. Additional commentary on the Amgen Buy recommendation may be obtained by contacting analyst Tom E. Hancock, Leerink Swann & Company, Tel: 617-918-4802. Leerink Swann & Company is a Boston-based investment banking and asset management firm with an expert equity research group specializing in biotechnology, pharmaceuticals and medical devices. Leerink Swann through its affiliate MEDACorp has a unique network of more than 350 biomedical professionals in the field, physicians, clinicians, and researchers whose assessments augment the analysis of the firm's research group. Terms of Use, and Privacy Policy ¸ 1996-1999 Microsoft Corporation and/or its suppliers. All rights reserved. ¸ 1999 Business Wire.