Amgen, the world’s largest biotech company, recently got defensive after safety questions emerged about two of its largest drugs, which treat anemia in cancer and kidney-failure patients. A black-box warning was placed on those and other anemia drugs on March 9, urging doctors to use the smallest possible dose of the drugs. Amgen previously enjoyed a market capitalization above $80 billion, but its stock plunged wiping out roughly $20 billion in market value.
For the full article.