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Fly News Breaks for July 9, 2015
AMGN
Jul 9, 2015 | 06:19 EDT
UBS downgraded Amgen to Neutral and lowered its price target to $165 from $185. The firm said the loss of Bro-Mab puts more pressure on the base business to continue to deliver upside and the impact of biosimilar competition will not be resolved this year. UBS said uncertainty on how well the $4B anemia business or $5B neutropenia business will respond to competition creates a waiting game that may limit upside potential this year.
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