BioCentury
ARTICLE | Finance

Ebb & Flow

March 24, 2008 7:00 AM UTC

Amgen has shed $61 billion, or 58% of its market cap, over the last three and a half years and last week found itself slipping into third place among top tier biotechs, giving up the second slot to Gilead.

Amgen (NASDAQ:AMGN) fell on news about Mircera methoxy polyethylene glycol-epoetin beta from Roche (SWX:ROG), which would compete with the biotech's Aranesp darbepoetin alfa and Epogen epoetin alfa. ...