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Amgen’s stock plunges after safety questions emerge

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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.

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